Daft cycle to work scheme Q?

ljs1977

After my final payment and "deposit" - final value calculation - is the bike mine?

There seems to be some deliberate confusion (well in my mind) that the bike is just loaned to you indefinitely?

When the 12 months is up can I sell / trade in my bike?

Cheers

RevellRider

Is it with cyclescheme?

bails87

After the final payment, yes.

RevellRider

Bails, the fact the OP is talking about a 'deposit' makes me think it's the new thing cyclescheme are running. Where you are transfering the ownership to cyclescheme for 4 years (I think) then you keep the bike at the end. Or something mad like that

bails87

I thought he meant after the 12 monthly payslip deductions and the final value payment (the one that some people just call £1, others say 10%, others take another deduction the same as the monthly one, and others use that grid that HMRC produced).

ljs1977

its the old scheme, just read something from Orange (bikes) which scared me, must be the new scheme

The Northern Monkey

does the 20%vat affect the ctw schemes at all?

bails87

It will increase the potential savings I imagine. As the company can save 20% instead of 17.5%.