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Cycle to Work Scheme

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hatler:
Mr recollection of the numbers when I was at Big Corp was that the scheme provider would take a £135 cut on a £1000 voucher.

phantasmagoriana:
My employer uses the Halfords scheme - current limits are £1500 for non-assisted bikes, or £2500 for e-bikes. I've never bothered using the scheme - I did look into it once, but didn't like the idea of not actually owning the bike for several years, and the savings for me were negligible.

cygnet:

--- Quote from: phantasmagoriana on 26 January, 2022, 09:04:47 pm ---My employer uses the Halfords scheme - current limits are £1500 for non-assisted bikes, or £2500 for e-bikes. I've never bothered using the scheme - I did look into it once, but didn't like the idea of not actually owning the bike for several years, and the savings for me were negligible.

--- End quote ---

It's been a long time since I looked at this, but it reminds me that  the work company's chosen provider never answered my question about frame guarantee and transfer of ownership. Also repayment terms and depreciation rate were initially based on home computing depreciation rates which they've since fudged further but never satisfactorily explained why or how..

It really blows my mind that there is still an annual tax benefit for using cars, but the cycle scheme is effectively hire purchase without the benefits of being the original owner.

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