csweatherston
Member
Registered: 16th Jan 06
Location: Devon
User status: Offline
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Hi.
Im guessing there are a fair few cyclists on here, has anyone used the cycle to work scheme?
How exactly does it work?, as the websites a bit vague.
Obviously your employer needs to regester, then do you get a limit you can spend on a bike (from a authourised shop?)
Or do you buy a bike outright at full price, then get X ammount returned in your tax?
Any advice appreciated.
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AlunJ
Member
Registered: 3rd Apr 07
Location: Newport
User status: Offline
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Theres a few different schemes running, the one with my work I believe you get £500 to spend, think you get the bike tax free, they give you a voucher for the bike and they take the payments out of your wages, then after the hire period you get to either give the bike back or make the final payment and buy it.
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Ste
Premium Member
Registered: 5th Mar 03
Location: Taif, Saudi Arabia
User status: Offline
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My work does it through Halfords.
Your company needs to register for it first.
You then apply for the money up to £1000. you get a voucher that you buy the bike on, we get 10% extra to spend on accesories.
The money is taken from your pre tax wages.
The bike is essentially 20% cheaper than retail as long as you pay 20% tax of course.
At the end of the 12 months hire period you have the option to buy the bike to keep it yourself or give it back to the company.
hth
I would rather lose by a mile because i built my own car, than win by an inch because someone else built it for me.
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FlaFFy_91
Premium Member
Registered: 30th Sep 08
Location: Formby, Merseyside
User status: Offline
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I literaly do these all day everyday at my place. There piss easy to do. Get your company to register then drop me a pm ill sort out sone proper details with you if u want 
Our shop is the main dealer in liverpool.
Oh and on a final note fuck halfords. There shite and know nouthing atall about bikes. They shouldnt be alowed to sell then the silly cunts
[Edited on 23-11-2011 by FlaFFy_91]
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Simon
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Registered: 24th Apr 03
Location: Oxfordshire
User status: Offline
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Like Ste says, the end part about buying the bike back is a tiny cost. When I did mine a while ago it was something like 5% of the RRP so mine cost me about £25. Think that % may have gone up slightly since that
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LeeM
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Registered: 26th Sep 05
Location: Liverpool
User status: Offline
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quote:
Originally posted by Simon
Like Ste says, the end part about buying the bike back is a tiny cost. When I did mine a while ago it was something like 5% of the RRP so mine cost me about £25. Think that % may have gone up slightly since that
when i signed up i was told it would be a tiny percentage. however ive just had an email saying if i want to buy it outright it was £85 which is closer to 20%. but i was given the option to hire it for another 3 years at a one of cost of £16. can you guess which one i chose 
[Edited on 24-11-2011 by LeeM]
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mantamark
Member
Registered: 19th Jun 06
Location: Northumberland
User status: Offline
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Ours is through halfords. I didnt bother as cant buy sale bikes, so i got a last season kona with £250 off and on 0% finance from the shop so worked out better than the c2w scheme.
Dont just assume you're getting a good deal. Plenty good deals around at the minute with the new season stuff coming in.
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nathy_87
Member
Registered: 14th Aug 08
Location: West Mids. Drives: koda Fabia VRS 5J
User status: Offline
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Sounds like its different at different places. I havnet done it personally but work colleuges have. What we do is got a max amount of £1500, think we have dedicated places (as above) go get details of the bike etc hand that over to our Accounts manager, he'll do the deal and we can pay back in monthly installments or as 1 lump sum then at the end once its all paid off its ours, we don't give it back to the company.
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Demo
Member
Registered: 27th Sep 01
Location: south wales Drives: astra sri ecoflex
User status: Offline
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quote:
Originally posted by LeeM
quote:
Originally posted by Simon
Like Ste says, the end part about buying the bike back is a tiny cost. When I did mine a while ago it was something like 5% of the RRP so mine cost me about £25. Think that % may have gone up slightly since that
when i signed up i was told it would be a tiny percentage. however ive just had an email saying if i want to buy it outright it was £85 which is closer to 20%. but i was given the option to hire it for another 3 years at a one of cost of £16. can you guess which one i chose
[Edited on 24-11-2011 by LeeM]
they changed the rules back at the start of this year. something to do with hmrc sticking their noses in i think
i had a bike + camelbak + multitool and it was a few quid short of £1000. basically paid just short of £600 back over a year out of my wages. then my final payment was about £75 to keep it on hire for another 3 years.
imo its a great scheme. if you know roughyl what bike you want go and get a magazine from local newsagents and have a nose through all the company ads in there to get a better deal. mine was from a mail order place and i just ordered all the paperwork through them and then sent them the voucher when it turned up
question - does anybody actually use their c2w scheme bike for travelling back and forth from work? 
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Simon
Member
Registered: 24th Apr 03
Location: Oxfordshire
User status: Offline
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Yes, everyday
quote:
Originally posted by nathy_87
Sounds like its different at different places. I havnet done it personally but work colleuges have. What we do is got a max amount of £1500, think we have dedicated places (as above) go get details of the bike etc hand that over to our Accounts manager, he'll do the deal and we can pay back in monthly installments or as 1 lump sum then at the end once its all paid off its ours, we don't give it back to the company.
I don't think anybody actually gives the bike back at the end its just the way the scheme is termed 'Hire Period' is just whilst you are paying it off through your wages
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Demo
Member
Registered: 27th Sep 01
Location: south wales Drives: astra sri ecoflex
User status: Offline
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yes rather than being termed something else (forget what now) so that the tax is scrubbed on it
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FlaFFy_91
Premium Member
Registered: 30th Sep 08
Location: Formby, Merseyside
User status: Offline
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yer you dont have to give it back haha
but why do you all go for bloody halfords?
there shite
i realy cant stress enough how shit halfords are when it comes down to bikes!
just sweaty little kids who dont have a clue how to fix bikes atall, on the advert there standing on the wrong bloody side of the bike to check the gears!, there that bad they cant even get it right on there bloody adverts
sorry for the rant just annoys the hell out of me
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LeeM
Member
Registered: 26th Sep 05
Location: Liverpool
User status: Offline
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quote:
Originally posted by Demo
quote:
Originally posted by LeeM
quote:
Originally posted by Simon
Like Ste says, the end part about buying the bike back is a tiny cost. When I did mine a while ago it was something like 5% of the RRP so mine cost me about £25. Think that % may have gone up slightly since that
when i signed up i was told it would be a tiny percentage. however ive just had an email saying if i want to buy it outright it was £85 which is closer to 20%. but i was given the option to hire it for another 3 years at a one of cost of £16. can you guess which one i chose
[Edited on 24-11-2011 by LeeM]
they changed the rules back at the start of this year. something to do with hmrc sticking their noses in i think
i had a bike + camelbak + multitool and it was a few quid short of £1000. basically paid just short of £600 back over a year out of my wages. then my final payment was about £75 to keep it on hire for another 3 years.
imo its a great scheme. if you know roughyl what bike you want go and get a magazine from local newsagents and have a nose through all the company ads in there to get a better deal. mine was from a mail order place and i just ordered all the paperwork through them and then sent them the voucher when it turned up
question - does anybody actually use their c2w scheme bike for travelling back and forth from work?
i used mine daily, after i got banned from driving didnt use it for work once the first 6 months i had it. but ive just signed up for the further 3 years and it states i still have to use it mainly for work. i dont even have job anymore im at uni
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Tom G
Member
Registered: 4th Aug 08
Location: Cheshire
User status: Offline
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quote:
Originally posted by nathy_87
Sounds like its different at different places. I havnet done it personally but work colleuges have. What we do is got a max amount of £1500, think we have dedicated places (as above) go get details of the bike etc hand that over to our Accounts manager, he'll do the deal and we can pay back in monthly installments or as 1 lump sum then at the end once its all paid off its ours, we don't give it back to the company.
That is exactly the same thing you retard.
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MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
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quote:
Originally posted by FlaFFy_91
I literaly do these all day everyday at my place. There piss easy to do. Get your company to register then drop me a pm ill sort out sone proper details with you if u want
Our shop is the main dealer in liverpool.
Oh and on a final note fuck halfords. There shite and know nouthing atall about bikes. They shouldnt be alowed to sell then the silly cunts
[Edited on 23-11-2011 by FlaFFy_91]
I like the Boardman bikes Halfords have.
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Simon
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Registered: 24th Apr 03
Location: Oxfordshire
User status: Offline
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Boardman bikes are OK. As long as you know about bikes then its ok to buy from places like halfords, its when you don't that buying from those places isn't good
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FlaFFy_91
Premium Member
Registered: 30th Sep 08
Location: Formby, Merseyside
User status: Offline
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Even buying from places like that when you know about bikes is dangerous. There shite. You walk in and half the bikes have the forks on backwards and bars rolled all the way back. They should genuinly be banned from selling bikes. Just stick to selling chavvy car shit haha
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Simon
Member
Registered: 24th Apr 03
Location: Oxfordshire
User status: Offline
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...and that's why if you know about bikes then that sort of thing isn't a problem because you will end up setting the bike up your way anyway. Of course the bikes shouldn't be like that in the first place
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AlunJ
Member
Registered: 3rd Apr 07
Location: Newport
User status: Offline
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I'd buy a boardman, but I'd have to get a proper bike shop to check it over
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