Self Employed Savings when buying a bike
pmob1
Posts: 2
Hi there,
Has anyone any tips or suggestions for making it possible to save similar money to the Cycle To Work Schemes for people who are self employed?
Any thoughts welcomed.
Regards
PMOB
Has anyone any tips or suggestions for making it possible to save similar money to the Cycle To Work Schemes for people who are self employed?
Any thoughts welcomed.
Regards
PMOB
0
Comments
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Only way I can think of is either claiming capital allowances by using 100% annual investment allowance on it by classing it as a business asset would need to justify it by saying that you use for deliveries, going to meetings etc. Write it off with 3 years flat rate depreciation and scrap it after that
Other method would be to charge mileage at HMRC rate of 20p per mile but that would take a while.0 -
With the final valuation fees cycle to work seems to calculate, a credit card with a nice interest free period for purchases would get somewhere close.Statistically, Six Out Of Seven Dwarves Aren't Happy0
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I love charging 20p per mile, that is the best idea I have ever heard.Why would I care about 150g of bike weight, I just ate 400g of cookies while reading this?0
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Deputy Dawg wrote:With the final valuation fees cycle to work seems to calculate, a credit card with a nice interest free period for purchases would get somewhere close.
Just get 'your company' to use a C2W supplier fo your choice, you'll pay a little out in fees but they'll suck up all the admin costs.
SimonCurrently riding a Whyte T130C, X0 drivetrain, Magura Trail brakes converted to mixed wheel size (homebuilt wheels) with 140mm Fox 34 Rhythm and RP23 suspension. 12.2Kg.0 -
The Beginner wrote:Deputy Dawg wrote:
Just get 'your company' to use a C2W supplier fo your choice, you'll pay a little out in fees but they'll suck up all the admin costs.
Simon0 -
Not sure how it works for self employed, but bikes for employees are a legitimate tax deductable purchace for any company, no need for any scheme, but the bike does remain the property of the company.0