CycleScheme/CTW... what did you get?

The Northern Monkey

Just out of interest really... (this doesn't apply to those of you that don't commute/only got your bike for MTB'ing )

What bike did you end up getting, that you actually commute and do a bit of MTB'ing on?

Just wondering if anyone went down the xbike route, or just a MTB with road tyres!!

Zaskar20

Specialized Pitch Comp for commuting along canal towpath and for MTBing.

Macster1

Specialized Rockhopper Pro Disc 2009

Used for commuting 8 miles daily, and off road when time allows :0)

Actually bought it from a guy last year when it was just 2 days old; he got it on his R2W scheme but decided he didn't need another bike so sold it nice and cheap to me 8)

Steve_F

Boardman Team Full Sus. Used for off-roading.

Plenty of other bikes for cycling to work!!

Saying that my road bike that I use most to C2W was also bought on that scheme.

booldawg

I bought an Orange G2. Its an 'entry level' HT.

Do 7-8 miles per day commute (sometimes more if I leave early enough). The commute is a mixture of on/off road. I get out at the weekends for a quick blast off road, usually around the miles of MOD vehicle tracks around Longmoor/Bordon.

the_prophet

bought a genesis io id, the alfine hubbed model.

fancied something a bit different, and able to commute on it if i need to during the winter when keeping the road bike away from the salt etc.

our scheme was pretty strict on the amount your allowed to top up, which was slightly frustrating. happy with my choice non the less.

BazzokaJoe

genesis altitude 20 here

i wanted a altitude 10 but they couldnt get it... so they gave me a 20 instead

t0pc4t

commuting - cube curve
also for commuting (wink) Anthem X4

mjcharlton71

Ridgeback Rapide Momentum. Canny little bike.

Will get something a little beefier next year if we're still in the scheme!

EDIT: ended up buying the Hardrock Pro 2011 myself for fun, as I felt a little guilty using it for C2W.

Dave Tom

just got a diamond back response it feels great

fletch8928

Scott Scale 50 in 2008, Did commute on that solid for 16 months and hammered off road.
Cube AMS 100 in sept 2009. Use it for the extended commute, and it was fantastic when the snow was here. £5 final payment next payday

Simon Cotter

t0pc4t wrote:

commuting - cube curve
also for commuting (wink) Anthem X4

What's the X4 like t0pc4t? Considering a Trance or Anthem in the C2W stakes. Never had full suss so will be my first.

projectsome

Trek Fuel EX 6.5 2009

PresumingEd

I bought a Scott Speedster 30 road bike to commute. I goit on 0% finance after the company told me categirically that they would not be bringing a the C2W scheme. 6 weeks later they introduced the C2W scheme!!

The Northern Monkey

whats the thing that the company has to pay/sign so you can get bikes over 1k?

there is a max of 10 people at the new office, and I already know that 2 are fairly into bikes (one being the MD lol) and they aren;t part of the CTW scheme but have said they would join if I wanted them too

GHill

I would check the new guidance from HMRC before jumping into a C2W scheme.

alfablue

The Northern Monkey wrote:

whats the thing that the company has to pay/sign so you can get bikes over 1k?

there is a max of 10 people at the new office, and I already know that 2 are fairly into bikes (one being the MD lol) and they aren;t part of the CTW scheme but have said they would join if I wanted them too

They need a Consumer Credit Licence for over £1k.

They don't need to join anything, the company just buys the bike you want and arranges a salary sacrifice, no need to use a third party like Cyclescheme or Halfords. You can download forms from Wiggle or Evans and customise them.

Given the new HMRC guidance that fair market value for a £1k bike after a year is £250, it would be smart for the employer to arrange a salary sacrifice that only recoups only £910 of the £1k then transfers ownership for £50 fee, and the employee is liable for £40 tax, but that has been covered by the remission on salary sacrifice.

The Northern Monkey

does cyclescheme work out better then? or are they the same?

just done the cyclescheme calculator and could save 41% on on £800 bike.

Can't see any gumpf about the "fair market value" though... I have heard a lot of people just paying a fiver?

GHill

The Northern Monkey wrote:

Can't see any gumpf about the "fair market value" though... I have heard a lot of people just paying a fiver?

That's the bit that has just changed. HMRC say it should be 25% of the purchase price.

The Northern Monkey

GHill wrote:

The Northern Monkey wrote:

Can't see any gumpf about the "fair market value" though... I have heard a lot of people just paying a fiver?

That's the bit that has just changed. HMRC say it should be 25% of the purchase price.[/quote

ahh ok... is that compulsory now then?

Chunkers1980

What if it got nicked, but your insurance wouldn't cover it for some reason. When they check (my company certainly will not push them) the bike is no longer in ownership it's been stolen?

The Northern Monkey

says plain and clear that the bike is the responsability of the owner... if its not insured or the insurance won't pay out then its up to you to pay what is outstanding.

alfablue

Cyclescheme et al are not better, they are merely third parties that do a little bit of paperwork for the employer and take 10% plus fee from the bike shop.

£5 transfer fee is fine, but you are then liable to tax on £245 on a 1 year old bike, which is not a big issue (£49 to a basic rate tax payer).

The clarification from HMRC DOES NOT mean you you have to pay 25% of the original price to transfer it, it just means that it assumed that is its value and it is a taxable benefit.

If you have any influence, get your employer to operate their own scheme, and do as I said previously. That will make it most flexible (buy any bike, anywhere) and best value.

Chivalry

alfablue wrote:

If you have any influence, get your employer to operate their own scheme, and do as I said previously. That will make it most flexible (buy any bike, anywhere) and best value.

yup i was lucky when i asked my Boss (he ownes the company.. amongst others....) about this type of scheme a couple of years back,,, turned out he buys his bikes through it ( he a big road bike fanatic) and said he was happy to sort it for anyone in the company... i mentioned the bike i wanted... he pulled out his wallet there and then and stuck it on the company CC i picked the bike up after work that evening.. lol was a CUBE LTD Team (black and green,, the best colours..lol)
Within a week 5 other people had orderd bikes

a year later and i mentioned i wouldnt mind a full sus... had my giant trance X3 (09 decent model) orderd again on the company CC within the day.... Boss is a top man!