Halfords being Jobsworths?

Agent57

Headhuunter wrote:

rjsterry wrote:

I've heard rumours that HMRC are trying to wind up C2W so, I wouldn't be surprised if they are making everyone do it to the letter.

Hang on, you can't say something as earth shattering as that without some explanation!

It's not so very long ago (Oct 2009) that this site ran an article about the scheme being expanded with the Cycle to Work Guarantee scheme, and claims:

Today's announcement quashes fears that the scheme might be scrapped because it loses tax revenue for the Government. (Last month, prime minister Gordon Brown announced he would scrap tax relief on childcare vouchers – the most popular benefit offered by employers – from 2011, and it was feared Cycle to Work might face a similar fate.)

Of course, things can always change with a new government, and I don't think the new Transport Minister is as pro-cycling as Lord Adonis was.

rjsterry

Headhuunter wrote:

rjsterry wrote:

I've heard rumours that HMRC are trying to wind up C2W so, I wouldn't be surprised if they are making everyone do it to the letter.

Hang on, you can't say something as earth shattering as that without some explanation!

Just heard it from a colleague. Haven't checked it out in any way so treat as just a rumour. Having said that, if Child Trust Funds are going, Tax Credits are being slashed and VAT is going up, I'd be very surprised if C2W avoids the axe for very long. They are Tories, remember?

soundninjauk

I got my bike on the Ride2Work scheme, which seems the same as C2W except I had to buy my bike through an Evans Cycles. Once I'd got lights and whatnot as well, the whole thing came to £1010.19 or something, on a £1000 voucher. I just paid the extra tenner on my debit card and that was that.

Can you not just do that? Or have I missed the point?

Headhuunter

soundninjauk wrote:

I got my bike on the Ride2Work scheme, which seems the same as C2W except I had to buy my bike through an Evans Cycles. Once I'd got lights and whatnot as well, the whole thing came to £1010.19 or something, on a £1000 voucher. I just paid the extra tenner on my debit card and that was that.

Can you not just do that? Or have I missed the point?

Evans scheme is the same as C2W except that Evans takes care of all the paperwork rather than your employer doing it. HMRC are not that keen on people chipping in extra money as it makes ownership hard to establish. Essentially when you buy a bike on C2W, your employer is buying it and you are leasing it from your employer. If you have committed some of your own cash to the transaction then your employer doesn't own the entire bike.

Specialized Needs

soundninjauk wrote:

I got my bike on the Ride2Work scheme, which seems the same as C2W except I had to buy my bike through an Evans Cycles. Once I'd got lights and whatnot as well, the whole thing came to £1010.19 or something, on a £1000 voucher. I just paid the extra tenner on my debit card and that was that.

Can you not just do that? Or have I missed the point?

Ah, but the bike itsealf didn't cost you over £1,000, did it? I think that is the problem here.

In effect you were just purchasing some of the accessories with the excess. I suppose if a scheme administrator was to be absolutely retentive about it, they might work out which combination of parts came in at just under £1,000 and get you to pay the remaining balance. But in the OP's situation the dispute would be over the ownership of the primary asset.

Zombie_donkey

At the end of the day Halfords could help me out but they are choosing not to.
The next time I am after a bike I will get a Cannondale on 0% finance from a proper shop.

They are making me do this, not me!

tailwindhome

Zombie_donkey wrote:

At the end of the day Halfords could help me out but they are choosing not to.
The next time I am after a bike I will get a Cannondale on 0% finance from a proper shop.

They are making me do this, not me!

Is the Bike £1029

Or is it the Bike + some stuff = £1029

the_hundredth_idiot

alfablue wrote:

There is no evidence at all that this is the case, just rumour-mongering on fora such as this, or from ill-informed HR bods. Whenever this is stated and I ask for some information of substance from a valid source, it goes quiet.

There definitely appears to be some moves by HMRC to enforce the final payment - that is, making sure the final payment is reasonable rather than a token amount. If a final payment of less than market value is made, HMRC would consider the difference between the amount paid and market value as a taxable benefit. Seems a bit harsh to me as any sensible market value could eat up most if not all of the tax saving so you get to the stage of wondering what the point is.

Not sure I understand why HMRC would be bothered about the ownership point, though - I can see why a company might be concerned about ownership but not HMRC.

Zombie_donkey

This C2W puts too many restrictions on things and I don't trust my employer not to make things worse when the time comes to buy the bike back.

We have showers at the other building we own nearby but they are locked up so that the company doesn't have to pay out for regular H&S checks.

I've E-mailed to cancel and I'll get one on 0% Then I can get exactly what I want.

tailwindhome

Zombie_donkey wrote:

I've E-mailed to cancel and I'll get one on 0% Then I can get exactly what I want.

What is it you actually wanted?