Cyclescheme

peanut1978
peanut1978 Posts: 1,031
edited June 2010 in Road beginners
do most employers allow a second cyclescheme?

Comments

  • mcj78
    mcj78 Posts: 634
    If you mean can you run the scheme in successive years then yep, but you can't run 2 schemes simultaneously.

    I know folk who have tried to get 2 bikes for a grand and they weren't having that either, anyone else tried that one?

    J :?
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  • peanut1978
    peanut1978 Posts: 1,031
    my previous cyclescheme ended in May, and I am trying to get another one to get a single speed for winter

    Cheers

    J
  • owenlars
    owenlars Posts: 719
    Every 18 months is the rule at our place. I have bought 2 bikes on the scheme.
  • rich164h
    rich164h Posts: 433
    mcj78 wrote:
    If you mean can you run the scheme in successive years then yep, but you can't run 2 schemes simultaneously.

    Are you sure? I'm positive I've heard about people running two scheme simultenously so that they could have a bike at each end of a train commute. :?
  • alfablue
    alfablue Posts: 8,497
    mcj78 wrote:
    If you mean can you run the scheme in successive years then yep, but you can't run 2 schemes simultaneously.

    I know folk who have tried to get 2 bikes for a grand and they weren't having that either, anyone else tried that one?

    J :?
    2 bikes within the £1k limit is perfectly permissible and it deals with the situation of cycling to and from a station at both ends of the journey without taking a folder with you.
  • alfablue
    alfablue Posts: 8,497
    From the HMRC DoT Implementation Guidelines:
    There is no limit on the total value of the equipment including the cycle. It is possible to loan two cycles to one employee if, for example, that employee needed a cycle at either end of a train journey between their home and place of work. (However, please see Section 9.1 where the Office of Fair Trading (OFT) has advised that the group consumer credit licence will cover schemes up to a value of £1,000).
  • alfablue
    alfablue Posts: 8,497
    I have 2 bikes on the scheme now, I only needed for the previous loan to end, I can get a 3rd in September - can't decide what next . . .
  • ilm_zero7
    ilm_zero7 Posts: 2,213
    yes

    as soon as one is closed out you can do a second - regrettably you have to be in the UK!

    however I exported my new bike and claimed the VAT - which was more than the cycle scheme contribution anyway
    http://veloviewer.com/SigImage.php?a=3370a&r=3&c=5&u=M&g=p&f=abcdefghij&z=a.png
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  • macondo01
    macondo01 Posts: 706
    I wonder how much longer the scheme will be running giving the current climate of cuts??
    .
    "Let not the sands of time get in your lunch"

    National Lampoon
  • thistle_
    thistle_ Posts: 7,219
    Macondo01 wrote:
    I wonder how much longer the scheme will be running giving the current climate of cuts??
    I wondered that, but it seems safe for the time being. I suspect it doesn't cost the government much compared to other things they are cutting. Does George-O even know about the cycle to work scheme?
    The VAT rise will mean the saving you gain will be even better than before though :D
  • fat_homer
    fat_homer Posts: 470
    I just wish my place was in it, they won't even entertain going in :evil:
  • macondo01
    macondo01 Posts: 706
    Does George-O even know about the cycle to work scheme?

    Shhh! :wink:

    Good point about VAT.
    .
    "Let not the sands of time get in your lunch"

    National Lampoon
  • kingrollo
    kingrollo Posts: 3,198
    Macondo01 wrote:
    I wonder how much longer the scheme will be running giving the current climate of cuts??
    I wondered that, but it seems safe for the time being. I suspect it doesn't cost the government much compared to other things they are cutting. Does George-O even know about the cycle to work scheme?
    The VAT rise will mean the saving you gain will be even better than before though :D

    Dare I mention that public sector workers don't get to claim the VAT bit back. What I think will kill cyclescheme is the public sector bodies are going to have to cut back on admin - and this would an easy target.
  • ris
    ris Posts: 392
    i'm on my third cyclescheme bike, not sure that i can fit another one in the house when it runs out! the wife might

    i hate to burst the vat-joy bubble but the cost of the bike could increase with the vat too, so i would guess that the bike spec will be less for the money. i'd be interested to see if the bikes that are positioned at the £1000 cyclescheme mark absorb that 2.5% so they are still available, or trim the spec to keep under, or add the money on and go over.