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Leaving Cyclescheme Early

sarajoysarajoy Posts: 1,675
edited May 2009 in Commuting chat
I realise this might vary firm-to-firm, and I should look at the agreement I signed, however I don't have it to hand and am wondering what people faced upon leaving.

I will likely leave this company with 2-3 months to go on the payments. I'm guessing I will have to pay off the last few without the tax benefit for a start, then it's possible I may have to pay them the savings made so far on it :?

What have other people had to do?
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Posts

  • Clever PunClever Pun Posts: 6,778
    you pay what's due on the bike.. inc tax so basically you lose the nice tax free savings

    if they let you keep it... and chances are they will
    Purveyor of sonic doom

    Very Hairy Roadie - FCN 4
    Fixed Pista- FCN 5
    Beared Bromptonite - FCN 14
  • Rich158Rich158 Posts: 2,348
    I can pay the balance of mine at any time, but, as Cleverpun says I'd lose the tax savings.

    iirc they could also charge a nominal amount for the bike at the end of the hire period as well, although this has never been an issue with my employer.
    pain is temporary, the glory of beating your mates to the top of the hill lasts forever.....................

    Revised FCN - 2
  • Clever PunClever Pun Posts: 6,778
    yeah I didn't have to pay any of the remaining £150... which was nice

    I'm trying to get a bike through the missus's c2w scheme, she's not that enamored by the idea :lol:
    Purveyor of sonic doom

    Very Hairy Roadie - FCN 4
    Fixed Pista- FCN 5
    Beared Bromptonite - FCN 14
  • DrWormDrWorm Posts: 66
    Clever Pun wrote:
    I'm trying to get a bike through the missus's c2w scheme, she's not that enamored by the idea :lol:

    You can undserstand why though. If she won't be using it to commute to work then she is basically committing tax evasion/fraud for you.
  • symosymo Posts: 1,743
    New job then sara. Muchos energy engineering work around at mo.
    +++++++++++++++++++++
    we are the proud, the few, Descendents.

    Panama - finally putting a nail in the economic theory of the trickle down effect.
  • sarajoysarajoy Posts: 1,675
    Aye symo, there's a fairly big thread about teaching I started - quite happy to jump off the electronics ship, tbh..!
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