Cycle to work payments

davegore2005

Not sure if this is the correct forum or not, but here goes.
Got my new Boardman bike through the cycle to work scheme, had the bike for almost 3 months already but still no payments taken.
Have spoken to payroll and they said they will start when they start basically, has anyone had any issues with the length of time before the payments started??.
Thanks in advance
Dave

HebdenBiker

I had the opposite issue. They carried on taking payments after I'd already made 12. Obviously the procedure varies between emplyers and payroll departments, and is at the mercies of human error.

You've queried it with payroll and they've given you a response. I'd make sure you have this in writing, even if it's an email. Then I wouldn't worry about it. Keep all your payslips organized for the next year or so, so if there's any question about when the C2W payments started or stopped, you have the evidence.

cooldad

Free credit. Result.

davegore2005

I am kind of thinking that, but would rather stretch the payments than get a big bill on my doorstep sometime in the future!!

Dave

Headhuunter

davegore2005 wrote:

I am kind of thinking that, but would rather stretch the payments than get a big bill on my doorstep sometime in the future!!

Dave

I wouldn't say anything else. You've spoken to payroll so they're aware. It's not your job to chase them. If you're concerned, take the money you were expecting to pay out and put it in a separate account, so that if they ever suddenly demand all the back payments (not sure this is possible through sal sacrifice though), you have it covered. If they never do, you've got a free bike and a nest egg....

spen666

davegore2005 wrote:

I am kind of thinking that, but would rather stretch the payments than get a big bill on my doorstep sometime in the future!!

Dave

Why not put the amount of the payments into a savings account- that way if you get billed later you have the money- if not, you have money to spend on new bike kit

Headhuunter

spen666 wrote:

davegore2005 wrote:

I am kind of thinking that, but would rather stretch the payments than get a big bill on my doorstep sometime in the future!!

Dave

Why not put the amount of the payments into a savings account- that way if you get billed later you have the money- if not, you have money to spend on new bike kit

Oi, I said that 1st!

lockstock666

You have fulfilled your obligations by questioning what you saw as an error but the payments are likely to start and then continue for 12 months.

You could keep aside the cash for the final value payment?

spen666

Headhuunter wrote:

spen666 wrote:

davegore2005 wrote:

I am kind of thinking that, but would rather stretch the payments than get a big bill on my doorstep sometime in the future!!

Dave

Why not put the amount of the payments into a savings account- that way if you get billed later you have the money- if not, you have money to spend on new bike kit

Oi, I said that 1st!

Ahh but you negligently failed ot advise him to put it into a savings account.

you only advised a "seperate account".

Thus depriving the OP of the opportunity to earn up to 1p in interest ( before tax obviously)

davegore2005

Ahh but you negligently failed ot advise him to put it into a savings account.

you only advised a "seperate account".

Thus depriving the OP of the opportunity to earn up to 1p in interest ( before tax obviously)


While you two sort out who gave the best advice can I say that the payments are nestling nicely in a Mr Men and Little Miss money box, not even getting the 1p intrest.

Dave
[/quote]

essjaydee

I can go one better...I had the monthly payment credited in this months pay 8)

Can't believe they are paying me for the bike

davegore2005

essjaydee wrote:

I can go one better...I had the monthly payment credited in this months pay 8)

Can't believe they are paying me for the bike

Fingers crossed then

Dave

joelsim

I thought payments were subject to VAT from January onwards? Does that not mean that if there are 3 delayed payments like this, then there will be 3 extra payments that are subject to VAT?