Another Cycle to Work Scheme Question

pmannion9

Has anyone managed to purchase a bike over £1K on the scheme without a credit licence?

Work will purchase any bike direct from any shop I want - but receipt will have to be for £1K.
Anyone have experience where shops will take a balance in cash and still issue a bike receipt for £1K.

Any advice appreciated.

Wamas

I just paid the outstanding money to the shop. Some shops are happy with this, some are not.The bike shop gave me a receipt for my bike to the value that it cost, less £100, as this was the money they lose to Cyclescheme.

You could ask the shop to issue you two receipts. One for £1000 and the other for the balance.

My work never asked for a receipt, once I had the voucher they didn't really bother after that, except to inform payroll to remove £83 from my salary each month for 12 months.
I just filled out the form when applying for the bike to say my new bike was going to cost £1000.

pmannion9

Thanks for that...
My company are not going to issue any voucher. They will pay the shop direct - so i will be hoping to pay the balance....

Herbie The Dog

Cyclescheme have clamped down heavily on bike shops going over the £1k limit (CCL excluded).

In some cases they've threatened to remove their Cyclescheme licence. I know one LBS in my area had their wrists slapped.

Unfortunately the forums were full of people claiming to have spent their vouchers on components, wheel sets, more than one bike etc. Once Cyclescheme got wind they carried out audits...

This may also be a reason for the recent HRMC 'clarification' of the rules.

Herbie The Dog

pmannion9 wrote:

Thanks for that...
My company are not going to issue any voucher. They will pay the shop direct - so i will be hoping to pay the balance....

In that case it's outside of any scheme so as long as the LBS are happy there's no problems.