Tax Free Cycle Scheme
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Tax Free Cycle Scheme
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
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This_what_you_mean?
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
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
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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.
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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.
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.
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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.
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.
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I seem to remember someone across on the RAFCC website 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.
To be honest though, being a keen MTBer I just saw it as a way to get a top-notch DH bike very cheap.
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Unashamedly lifted from a cycling site I frequent (Another Cycling Forum):
The PC scheme has been binned by Gordon as of 5th of this month - and I got in just before it went!
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/group...el_038228.hcsp
http://www.booost.uk.com/
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/group...el_038228.hcsp
http://www.booost.uk.com/
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Originally Posted by JL3677
Stacker did you do it?
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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.
