Cycle to Work scheme

Cycling, trains, walking. This is the place to talk about how good or bad cycle routes are, mention great train journeys, talk about car sharing schemes or husky travel. Anything in fact that is about transport that is a little alternative.
sarahkeast
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Cycle to Work scheme

Post: #225562 sarahkeast
Tue Mar 08, 2011 10:56 pm

I am so excited, just got approval thru from Cycle to Work for my new bike. :sunny:

In my 'other' life I adventure race, trail run and mountain bike race. :scratch: Not very 'ish' but a heap of fun. Anyways, my race bike, the love of my life [apart from kids, most of the time] is 6 years old and very well used, parts were wearing out and she needed some significant money spent on her to keep her up to speed for racing. I had heard about the scheme and how it is a good saving, so thought I would give it a go. Found the bike I wanted, applied yesterday and have been approved already. The scheme is meant for bikes up to £1000, so I am paying a little extra to top it up, the rest is taken form pay packet before tax and NI and will save me about £400 on purchase price. Very excited. :cheers: :cheers: :cheers:

Oh and I wouldnt dream of riding new bike or race bike to work. I use my old bike, which was my second race bike and now has a basket and carriers on it. :rabbit:

Well worth looking into a scheme, see if your employer offers similar.
Sarah :flower:

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fruitcake
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Re: Cycle to Work scheme

Post: #225567 fruitcake
Wed Mar 09, 2011 8:26 am

congrats re new toy :cheers: My old work offers that scheme - its brill, loads of folk took advantage of the offer - and all the bikes were bought throught the local independant bike shop too so helped spread the dosh locally

JillStephens7
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Re: Cycle to Work scheme

Post: #226770 JillStephens7
Tue Mar 22, 2011 4:54 pm

What's a residue value please Susie?! :scratch:

Jill

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Re: Cycle to Work scheme

Post: #226791 Big Al
Tue Mar 22, 2011 7:52 pm

JillStephens7 wrote:What's a residue value please Susie?! :scratch:

Jill


TAX !

It will have to go down on your tax form as a payment in kind so to speak and where you could pay 5% of the value that has now changed to 25%. At least that's the way it was explained to me.
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sarahkeast
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Re: Cycle to Work scheme

Post: #226805 sarahkeast
Tue Mar 22, 2011 9:14 pm

Yeah, something like that, but there is a way around I believe, a small payment or something deferred. guess I should have checked it a little more thoroughly....
Sarah :flower:


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