Cycle Scheme (again) - letter to accounts

2Bit
2Bit Posts: 30
edited July 2008 in Commuting chat
Hi all

I know there are loads of thread on the C2W scheme but i'm trying to find a letter/email that i'm sure i saw on here - someone sent an email/letter to their accounts dept on the financial benfits to the company of the scheme.

I'm looking to send the same thing to the accounts dept here but cant find it anywhere


Cheers

Comments

  • 2Bit
    2Bit Posts: 30
    maybe it was on singletrackworld then........

    In the meantime anyone got a ready to hand list of finanical benfits for employers to encourage them to run the scheme
  • bazzargh
    bazzargh Posts: 45
    There's some pdf intro bumf you can download from evans here:
    http://www.evanscycles.com/ride2work

    our scheme just kicked in today...yay. Through the persistence of one bloke (not me - I tried two years ago and gave up in the face of indifferent accountants), I think the main benefit the company saw was 'Gordo will shut up about it' :D
  • 2Bit
    2Bit Posts: 30
    Cheers for that - I reckon I'll create a comprehensive list of benefits to employers from the various C2W resources there are out there


    I'm defo playing the 'Gordo' here - 6 months later & I'm still asking nicely for the scheme and a shower.......


    What confuses me about the C2W scheme is how some resources (including the letter/email I was looking for) explain that the company can actually make money from the scheme ie http://www.cycletoworknow.com/info/empl ... -employers

    If this is the case then why isnt -
    A) this trumpeted by all schemes
    B) this being undertaken by EVERY company?!


    Cheers
  • RufusA
    RufusA Posts: 500
    The details on CycleToWorkNow are at best confusing but IMHO plain misleading.

    If you were to present them to any accountant your arguement would have very short thrift.

    The Capital Allowance isn't "Money In" for the employer. It's the amount they can offset against their profit before tax in a year. Essentially all it does is allow the employer *some* relief against paying extra corporation tax on the additional "profit" they've made because they've paid their staff less.

    The only real saving for employers is the 12.8% Employers NI.

    Yet in the real world many employers have costs associated with changing an employees salary. Drafting new contracts. It might also cost them to effectively provide the employee with an effective £1k interest free loan. So the £100 saving quickly disappears on additional costs.

    The real benefits are the fulffy ones. Happy, healthier employees committed to staying with the company for 12+ months. Something nice to attract new staff with, something nice to add to the social/sustainability report etc.

    HTH - Rufus.

Categories