Cycle to Work Scheme - HELP!

wilkij1975

Myself and a few others are very interested in the cycle to work scheme but our employers are, for some reason, is reluctant to go into it.
Is there anyone, websites, resourses etc that we could contac / use to gather info as to why it would be a good idea to be in it? As far as us employees can see, its a win win situation. We just have to convince our employer.

cgarossi

Theres no loss to the employer. Its just a lease scheme thats tax free.

Heres a good FAQ

http://www.cyclescheme.co.uk/employee,faqs.htm

I bought my Scott under the scheme.

Daz555

Employer does incur costs which is why some companies are reluctant.

cee

it does add an element of admin depending on which version of the scheme they go for....so technically there is some cost in terms of the time it takes to administer, but many have found this to be much less than they thought....there are a bunch of threads particularly in the commuting section about C2W and winning over your employer

Milkie

The reason why some business's don't do the scheme is due to the cost...

Say 100 employees do the scheme, at £1000 per bike... Remember the business buys the bike at £1000 - VAT and you pay for it over 12 months.. Your business may have to outlay £100,000 - VAT, that they won't get back until you've made your final payment. So it could cost your business quite a lot of money, there are other advantages for the business though (tax relief I think).

Well, that's how I think it works, I setup the C2W scheme for my place of work.

Dr S

The business is allowed to levy a fee for the borrowing of the funds as well so it doesn't have to come from working capital.

Seemed fairly straightforward to set up when the girlfriend did it for her theatre.

Nick