Quick straw poll. If you employer offers cycle to work scheme what is the limit set by them?
CityCyclingEdinburgh Forum » Questions/Support/Help
Cycle scheme limits
(10 posts)- Started 1 year ago by steveo
- Latest reply from acsimpson
- This topic is
resolved
-
Posted 1 year ago #
-
It is currently £1000 - it will apparently be £3000 "soon".
Posted 1 year ago # -
£3500
Posted 1 year ago # -
Thanks guys, that £3k+ limit seems really generous these days especially given the old days with the likes of Genesis doing everything to keep the CDF 10 at £999.99.
Posted 1 year ago # -
£4000 I think
Posted 1 year ago # -
£2000 - which is causing a bit of a problem for eCargo bike purchase at the moment as they all cost substantially more.
Posted 1 year ago # -
I've managed to negotiate my company up to £1.5 - £2k. I did want to give people the option of a big cargo bike but the boss was worried about people leaving with a balance that exceeded their monthly salary.
Posted 1 year ago # -
Surely they could just have a clause that would mean if someone did that, the bike would remain the property and possession of the company until the balance was paid down?
Posted 1 year ago # -
Very small company think there is 50 of us now. Don't think the boss wanted the work/risk different for something like RBS who have the resource to chase down debt.
Posted 1 year ago # -
@Yodhrin, That's my understanding of how the tax exemption works. The bike is the property of the employer who lend it to the employee until such a time as it is transferred and tax paid on the residual value. However I'm not sure many small employers would want to take possession of a bike and certainly wouldn't want to be involved in repossessing it.
Posted 1 year ago #
Reply
You must log in to post.
posts
