cycle to work scheme
  • as a soon to be fully paid up courier, going self employed,
    does anyone know if I can opt into the Cycle to work scheme,
    Im buying a new bike anyway, racing, which could - ahem be used for work, and I was wondering if anyone else had any experience of this scheme.

    (grammatikal errors noted Herr Uberdribble)

    Ive got a new name and tax number so all other debts are now forgotten, a special bankrupcy service that I invented for my self.
  • Surely you'll be getting your bike tax-free anyway, if it's for work? (This is why I spend all my spare cash on bike stuff - to keep HMRC's hands off it.)

    The cycle-to-work scheme (like others of its ilk) is actually run by a profit-making company, and it's only worth using it if you're a big company whose HR department can't be bothered with working out all the individual contracts, salary sacrifices, etc. If you're a small company, it's much better just to buy the bike directly and negotiate repayments with each individual employee (this way the bike shop does better out of it too, because the profit goes to them, rather than the CTW scheme). And if you're a one-man/woman-band, then just buy the bike and claim back the tax when you do your tax return.
  • As a one man band, I can claim the tax back but figured that I may be able to claim a greater proportion of available rebate but with the added paperwork hassle I will probably do the easier tax return.
    Its not for work....just a bit of racing but Im claiming everything back. (bikes/computer/printer/paper/stationry/even the pen i use to scratch my arse whilst working)

    I also heard that its possible to claim a daily amount for food. The food is technically a fule for work therefore tax deductable. Can anyone confirm this?
  • I think you can only get a further saving if you are an employee. So I think if you have set yourself up as a company, and you are a PAYE employee of your company, then you (the company) hire the bike to yourself (the employee) and pay for this loan via salary deductions. Apart from not paying the VAT you benefit by paying less tax and NI over the hire period.

    I could be 100% wrong though so ignore that
  • Yeah, ignore me too. I probably just made that up.
  • We need to get a cycle FOR work scheme I guess
  • check, the site,,,
    clearly says that it is not available to self-employed people
  • Nah fuck that, I just go cash in hand. The tax will only end up in some poor persons benefit payments towards a flat screen TV. Better off keeping the cash myself.

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