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Cycle to work scheme

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    Cycle to work scheme

    So apparently you can buy a bike through your business?
    Has anyone done this?

    CYCLE TO WORK SCHEME

    An employer can join Cycle to Work scheme. The company can simply buy a cycle and cyclists’ safety equipment and loan it to an employee for qualifying journeys to work. It will give an employee a tax-free benefit. There's no agreement to draw. The employer 'joins' the scheme within the company when he buys a bicycle and makes it available to all employees. The employer does not require any prior approval by HM Revenue & Customs.

    The cost of the bike and safety equipment can be treated as capital expenditure.

    The following cyclists’ safety equipment can be claimed:

    - Cycle helmets which conform to European standard EN 1078

    - Bells and bulb horns

    - Lights, including dynamo packs

    - Mirrors and mudguards to ensure riders visibility is not impaired

    - Cycle clips and dress guards

    - Panniers, luggage carriers and straps to allow luggage to be safely carried - Child safety seats

    - Locks and chains to ensure cycle can be safely secured

    - Pumps, puncture repair kits, cycle tool kits and tyre sealant to allow for minor repairs - Reflective clothing along with white front reflectors and spoke reflectors

    Conditions to be met in order to qualify for cycle to work scheme:

    - Ownership of the bike is not transferred to the employee during the loan period (this is HMRC wording which means that the bike should be owned by the business);

    - Employees use the equipment mainly for qualifying journeys, at least 50% business use; i.e. for journeys made between the employee’s home and workplace, or part of those journeys (for example, to the station), or for journeys between one workplace and another.

    #2
    Yep, myCo bought me a bike. No problem.

    Comment


      #3
      Evens Cycles are asking for a Certificate ?

      https://www.evanscycles.com/ride-to-work/how-to-apply

      Comment


        #4
        "cyclists’ safety equipment"

        These days that includes a machine gun for car drivers.

        Comment


          #5
          You don't need a cycle to work scheme just for yourself, your company can just buy a bike from anywhere and lend it to you free of charge. It's only if you have employees and want them to contribute that you need a scheme.

          Comment


            #6
            Originally posted by Archangel View Post
            You don't need a cycle to work scheme just for yourself, your company can just buy a bike from anywhere and lend it to you free of charge. It's only if you have employees and want them to contribute that you need a scheme.
            Yep, just buy the bike through the company - no need to set up a scheme as such.

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              #7
              Most of the big Clients Cos I have been at offer a bike to the permies in some employee benefit deal.

              Comment


                #8
                It is the 2 showers for 800 folk that is the problem.

                Comment

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