Cycle to Work

[NolasGreening]

Hi All,

I have had a search on the site but I cant find any thing on this although I do remember a post but for the life of me can I find it now...

Had anyone running a limited company from ther home address got a bike under any ride or cycle to work scheme?

Or can anyone think of any issues?

Thanks

Nick

[Halo Jones]

The main issues with cycling to work are the other road users; I used to cycle the 1.5 miles to work, after getting knocked off the bike 3 times I thought blow that & got a car, saving the environment is well & good but I want to be alive to enjoy it.

[stek]

Remember that PSA - "Think once, think twice, think Bike"? Well I didn't think twice (or bike) and pulled out in front of one - a pushiron. He totally anchored on and stopped inches from my driver door. The look of sheer panic in his face! Rear wheel fishtailing, feet digging into tarmac like on a cartoon....

I was being 'let out' turning right onto a major road, traffic was stationary and he seemed to think he can just hurtle down the hill on the nearside, surely that's not allowed, the bike should queue up like everyone else or at least proceed with caution.

I admit I was in the wrong, but he was going so fast and I just never saw him with all the trees and street furniture in the way.

And motorbikes in the stopped traffic on the motorway, swerving between the lines of cars missing door mirrors by millimetres - is that allowed?

[Dante]

In answer to the original post:

As you are both the employer AND employee it wont benefit you in the same way as if you were an employee. A normal employee would benefit as they would pay less tax, and the employer would pay less on employers NI, however in your case you can simply reduce your annual salary. Another negative factor is that if you currently pay yourself at the national minimum wage, you cannot salary sacrifice below this as you will not be meeting national minimum wage requirements...

My advice to you would be to pay for the bike direct from the company, the company will then own the bike and will provide this to you as the employee.

By doing this the company would benefit as follows (based on a £3000 bike including VAT):

£3000 at cost.

-£391.30 VAT reclaimable. (Please note if you are on the VAT flat rate scheme you can only claim the VAT back if the bike’s gross cost is over £2000.)

-£547.83 Corporation Tax relief.

£2060.87 – This would be the overall cost to the company, saving almost £1000!

If buying the bike through the company the bike must be purchased in the company name and direct from the company bank account.

Hope that helps.

Dan

[chef]

you're right, I remembered reading that from around the time way back when I first found this site.. long term lurker, welcome

Cycle to Work thread
Cycle to Work with Umbrella Company Thread

[SueEllen]

And motorbikes in the stopped traffic on the motorway, swerving between the lines of cars missing door mirrors by millimetres - is that allowed?

They are allowed and actually encouraged to overtake on the RHS in stationary traffic, but not weave in and out of cars due to the danger.

[J i m s t e r]

Hmmm...

The advice from my accountants (Brookson) via their copy of the Cycle2Work form includes:

"Can I purchase a bike through my Limited Company without entering the
scheme?
Yes, but it would not be of financial benefit to claim for a cycle as the HMRC could see there is availability for ‘personal use’ and a Benefit In Kind charge could apply.

[Jeebo72]

Hi All,

I have had a search on the site but I cant find any thing on this although I do remember a post but for the life of me can I find it now...

Had anyone running a limited company from ther home address got a bike under any ride or cycle to work scheme?

Or can anyone think of any issues?

Thanks

Nick

I'm into the old cycling, so looked into it, and it's limited in how much you can pay and to what shops you can buy from.

I was looking for a 2K bike so it wasn't happening but there's shops out there that specialise in "last years models" at 20 to 40% discount, and you are actually better off going to these places than halfords at RRP! PM me if you want some websites/shops to go to.

[ratewhore]

Hi All,

I have had a search on the site but I cant find any thing on this although I do remember a post but for the life of me can I find it now...

Had anyone running a limited company from ther home address got a bike under any ride or cycle to work scheme?

Or can anyone think of any issues?

Thanks

Nick

tight arse!!

[chef]

tight arse!!

really !! photo's please then