View Full Version : Tax Free Cycle Scheme


JL3677
23rd Apr 2006, 00:19
Hi I know this question is a bit off topic but has anyone heard of the tax free cycle scheme? (Ive read up briefly and realise it is the employer who has to purchase the bike) has anyone tried this in the forces:confused:



airborne_artist
23rd Apr 2006, 07:12
I think these guys were issued with bikes tax free:

http://www.hrmconsultancy.net/images/bike.jpg

Whirlygig
23rd Apr 2006, 07:32
This_what_you_mean? (http://www.cyclescheme.co.uk/benefits.php)

I suspect that the tricky thing is getting your employer to buy the bike! It would be easy enough in a small business but I can imagine getting the large wheel of the MOD's HR department to turn being a rather protracted process.

However, I would suggest that your HR/Personnel Dept. would be the first place to ask. Alternatively, you could contact Cyclescheme and ask them if they have previously run a scheme in the forces and who to contact.

Cheers

Whirls

ChezTanker
23rd Apr 2006, 08:52
They used to be signed out from the SWO - old fashioned but supplied by the employer!! Probably not what you have in mind but the Services were ahead of their time.

JL3677
23rd Apr 2006, 10:20
Yes thats the scheme. Have you seen the bikes the SWO hands out? :) I dont think the Royal Mail would take them of his hands.

Ill get in touch with them and then approach PSF. Dont see the reason why we cant be entitled to it if people outside the forces are.

rudekid
23rd Apr 2006, 10:51
This looks like an excellent scheme. I predict a monumental amount of inertia from our pay people!

Good luck and please post if you have any joy.

EnginEars
23rd Apr 2006, 12:38
There's a few of these schemes.

Here's another you can get pc's through too.

http://www.booost.uk.com/

It's a bit of an effort to get the admin/accountant types to get off their arses and sort this kind of scheme out tho. :sad:

L J R
23rd Apr 2006, 12:50
And lets get them ordered thru JPA. Should get them by the new milennium.

airborne_artist
23rd Apr 2006, 13:02
Gordon removed the PC scheme in the last budget.

BBC report (http://news.bbc.co.uk/1/hi/business/4834576.stm)

The Helpful Stacker
23rd Apr 2006, 13:12
I seem to remember someone across on the RAFCC website (http://www.rafcycling.org.uk/) was looking into this scheme. As far as I know it came to nothing, something to do with our 'payroll department' being a separate entity from our actual workplace (stations) with a million levels of admin types unable to co-ordinate such a scheme. Seems a shame really, especially considering the 'green transport initiatives' that are supposedly an important part of the RAF's policy on lessening our impact on the environment as a whole.

To be honest though, being a keen MTBer I just saw it as a way to get a top-notch DH bike very cheap.;)

JL3677
23rd Apr 2006, 15:15
Stacker did you do it?

scroggs
23rd Apr 2006, 15:46
Unashamedly lifted from a cycling site I frequent (Another Cycling Forum (http://bikereader.com/forum)):
One point is that the salary sacrifice that the employee takes in order to lease the bike from the employer affects pensionable earnings. My employer has just refused to join the computer (and hence the bike) scheme on this basis
At the end of the lease element the employee can buy the bike, but this must be at the residual market value, therefore the shorter the lease period you choose, the more you'd have to pay to buy ownership of the bike from the company (because the bike is newer).
A few useful links:
http://www.leedscyclists.org.uk/Tax%20breaks.htm - the guy who wrote this guide is very helpful!
http://www.dft.gov.uk/stellent/groups/dft_susttravel/documents/page/dft_susttravel_038228.hcsp
http://www.booost.uk.com/
The PC scheme has been binned by Gordon as of 5th of this month - and I got in just before it went!:ok:

The Helpful Stacker
23rd Apr 2006, 17:26
Stacker did you do it?

No I haven't benefited from the scheme.

ChezTanker
24th Apr 2006, 07:23
What was the PC scheme?

airborne_artist
24th Apr 2006, 08:02
The PC scheme allowed employees to lease a PC from their employer, paying monthly by debits from untaxed salary. At the end of the lease period they were able to buy the PC for a nominal sum. The employer benefitted as the deduction was not subject to employers' NI.