Cycle to Work Sceme Cheats

dhope

CiB wrote:

Nothing wrong with testing grapes. I do it with mushrooms if I'm particularly hungry - errr keen to know if they're ok, then move on to check that the cheese & bread sticks are ok, and usually finish off by checking that none of my intended bottles of wine are corked. That's not theft surely? I like shopping.

Uh huh. Generally I'm not sure if clothes fit at first, so I try them for a few months. Often the ones that fit well look a bit too worn to buy, so I'll put them back on the shelf and try some others.

hatbeard

CiB wrote:

I like shopping.

I believe that's called 'dining out'

Finbar Saunders

DonDaddyD wrote:

What I want to know is this.

When in the supermarket I sometimes "test the grapes". Sometimes I like them and don't buy them anyway but go back and "test" some more.

Am I stealing?

"Theft by consumption"

I know someone who was a cook in an ASDA staff restaurant who got dismissed for theft by consumption because she tasted some of what she cooked! I thought that was important for a cook to do, and so did the tribunal that said she should be reinstated.

But back to the topic at hand.....does the cycle to work fine print stipulate for how long the conditions on commuting are in effect? I paid mine off in a year. If I met the letter of the law by using it for commuting more than 50% of the time I rode it, am I free to use it however I like after my lease is ended and I own it outright? Or am I still a scum of the earth tax cheat? :oops:

sketchley

Finbar Saunders wrote:

But back to the topic at hand.....does the cycle to work fine print stipulate for how long the conditions on commuting are in effect? I paid mine off in a year. If I met the letter of the law by using it for commuting more than 50% of the time I rode it, am I free to use it however I like after my lease is ended and I own it outright? Or am I still a scum of the earth tax cheat? :oops:

The 50% is the qualification for being able to pay the rental fee to your employer tax free. So is in affect all the time you are paying rental on the bike. If you are paying nothing for the rental in years 2 and 3 then the 50% rule would make no difference as the rental is £0 before and after tax.

posh_pedaller

You don't own the bike until you have bought it off your employer - which HMRC says should be 25% for an initial purchase price over £500 unless there are reasons otherwise (source). This can wipe out much of the saving, However this is after 1 year, you can keep loaning it from your employer for longer at no charge and simply buy it off of them when you feel like it and the stipulated price has dropped.
Other helpful/boring links
DfT C2W Guidance
Some extras

rolf_f

posh_pedaller wrote:

You don't own the bike until you have bought it off your employer - which HMRC says should be 25% for an initial purchase price over £500 unless there are reasons otherwise (source). This can wipe out much of the saving, However this is after 1 year, you can keep loaning it from your employer for longer at no charge and simply buy it off of them when you feel like it and the stipulated price has dropped.
Other helpful/boring links
DfT C2W Guidance
Some extras

Usually you would transfer ownership to the scheme provider (assuming the employer doesn't want to be bothered with such things) - in this case you are eligible to apply for another voucher at the end of the initial year so the first bike is then no longer under any restriction.