which road bike

chrishumes
chrishumes Posts: 227
edited October 2009 in Road beginners
need a bike on cyclescheme so looking around £1000. choices so far:-

planet x (£999+100build+100 for the scheme=£1199)
scott cr1 (£1150)
orbea onix (£1200)

theres so much to choose from!

i really want a boardman but cannot use halfords, only local bike shops, anyone know how to get around this??

Comments

  • teagar
    teagar Posts: 2,100
  • Steve_b77
    Steve_b77 Posts: 1,680
    How are you spending more than the £1000 limit?
  • most shops dont stick to the £1000 limit on the cyclescheme
  • Steve_b77
    Steve_b77 Posts: 1,680
    They sure do, unless the the shop is slightly dodgy and likes bending tax rules/making out the voucher for another bike and then letting you add money to it.

    Or if the company you work for has a consure credit licence then you can basically spend whatever you want.

    Technically if the shop lets you spend more then the £1000 upper limit they are breaking the law and making a flase declaration to the tax man and the company you work for.

    Really, who would want a bike costing well over a grand to "ride to work" on :?:
  • http://www.planet-x-warehouse.co.uk/?page_id=4961

    look here mate, you can add money to it.......to get the bike you want
  • FOAD
    FOAD Posts: 318
    Steve_b77 wrote:
    They sure do, unless the the shop is slightly dodgy and likes bending tax rules/making out the voucher for another bike and then letting you add money to it.

    Or if the company you work for has a consure credit licence then you can basically spend whatever you want.

    Technically if the shop lets you spend more then the £1000 upper limit they are breaking the law and making a flase declaration to the tax man and the company you work for.

    Really, who would want a bike costing well over a grand to "ride to work" on :?:

    What utter bollocks...

    My LBS are no more bent than I am :lol:

    They even put on my form the bike I was having which was £1400 worth.

    You show me the illegal bit and which law they are breaking and I will stand corrected. I am getting tax relief on £1,000. No more and no less. I can't even see where the false declaration comes in, as they are declaring the exact bike on the form.

    My employer is fully aware of this practice, and every other LBS I went to were also happy to do this.

    And why wouldn't someone buy a bike for over a grand to ride to work on exactly, please educate us all. :lol:
  • macondo01
    macondo01 Posts: 706
    While the tax advantages are limited to £1000, the voucher limit, customers can go over the limit out of their own pocket. This sum over the £1000 is not eligible to the tax advantages. It's not dodgy. But back to Chris's question...anyone?
    .
    "Let not the sands of time get in your lunch"

    National Lampoon
  • macondo01
    macondo01 Posts: 706
    While the tax advantages are limited to £1000, the voucher limit, customers can go over the limit out of their own pocket. This sum over the £1000 is not eligible to the tax advantages. It's not dodgy. But back to Chris's question...anyone?
    .
    "Let not the sands of time get in your lunch"

    National Lampoon
  • FOAD
    FOAD Posts: 318
    And in my opinion, anyone who will charge you £100 extra to cover the scheme should be walked from, they still have enough margin and if they do a good enough job the first time you will be a good customer. If they didn't want the extra business they shouldn't take the scheme.
  • doyler78
    doyler78 Posts: 1,951
    edited October 2009
    It's no so clear cut. What could be illegal is to present a invoice for the bike marked down to £1000 when more than that was paid and the sole reason for doing so is to mislead the organisation into thinking that the total cost was £1000. This is important as the employee could now assert a claim over the bike and which the employer has no knowledge of and therefore may not have agreed to had they not been mislead. That must raise serious questions about the legality of these. Also the sale of the bike to the employee at the end of the scheme period is subject to VAT. If the employer doesn't know the true cost of the bike then they will undercharge the VAT which could have very serious consequences for the employer, bike shop and employee.

    Also the scheme is clear about the fact that a bike must be purchased. Whether a bike costing £1500 of which you pay £500 towards and of which only £1000 is purchased through the scheme then there has to be a serious questions as to whether a bike was actually bought through scheme or whether only part of bike was bought. Full bikes can only be bought through the scheme so is the case in these circumstances? I'm not so sure.

    The chances are that it is unlikely that there will be any consequences from these practices as they are quite widespread and well known about however if HMRC decide to pursue, as is their legal right, then God forbid anyone caught in its wake as they take no prisoners.
  • Slow Downcp
    Slow Downcp Posts: 3,041
    We have a £3,600 upper limit set by the company - luckily we have a consumer credit licence and I administer the scheme internally, no third party to charge £100 fee or disallow discounts off RRP.

    If there is no consumer credit licence, and the employee is allowed to top up then it is breaking the rules as the company doesn;t own the bike 100% if 20% has been "topped up" by the employee. That said, many companies allow it and it's not a problem as long as the receipt to the company states £1,000 only and the IR doesn't show an interest in investigating.

    Yes, people do spend that much and use it to commute to work.
    Carlsberg don't make cycle clothing, but if they did it would probably still not be as good as Assos
  • Evil Laugh
    Evil Laugh Posts: 1,412
    Some do it some don't.

    On your bike, the branch that I went into in London Bridge, won't go over the grand.

    Evans would.