Cycle to work scheme

[Zoiderman]

Just buy the bike as a company asset.

This is precisely what we were advised by the accountant. No mileage allowance, but you get to have a nice shiny new bioke to play with, which depreciates kindly for you to dispose of it when you will.

[JamJarST]

This is precisely what we were advised by the accountant. No mileage allowance, but you get to have a nice shiny new bioke to play with, which depreciates kindly for you to dispose of it when you will.

Damn, I have just bought myself a new mountain bike but I paid out of personal funds .... it wasn't cheap ...

[h8mmer]

Damn, I have just bought myself a new mountain bike but I paid out of personal funds .... it wasn't cheap ...

Sell it to your LTD for cost i.e. claim it back on expenses.

As long as it is covered within the allowable time frame to claim back the VAT (your accountant will know what that is) then I cannot see an issue - its what I did with mine.

[h8mmer]

Sell it to your LTD for cost i.e. claim it back on expenses.

As long as it is covered within the allowable time frame to claim back the VAT (your accountant will know what that is) then I cannot see an issue - its what I did with mine.

Sorry, didn't mean claim on "expenses" - just sell it to your company!

[richy]

Reflective jacket?

Hi All

I presume ok for my Ltd co purchase as expense a reflective jacket to wear when on the bike travelling to clients? Also a set of bike-lights are needed.

Bought some fantastic waterproof "Overshoes" from ebay so my shoes won't get wet if any showers. I'm using the bike most days to client now, will see how far thru winter I get..

Cheers, rich

[Waldorf]

Hi All

I presume ok for my Ltd co purchase as expense a reflective jacket to wear when on the bike travelling to clients? Also a set of bike-lights are needed.

My accountant says YES!

http://www.nixonwilliams.com/images/...y%20Cycles.pdf

[richy]

My accountant says YES!

http://www.nixonwilliams.com/images/...y%20Cycles.pdf

Good on Nixon Williams!
Fantastic, cheers. rich

[richy]

second ltd co bike for same employee?

Got bicycle. Now thinking, the one ltd co bought road hybrid bike. Can ltd justify buying a second bicycle that gets used by me as well?

I'd get a mountain bike this time, so can take different routes to clients (along tow path, sustrans cycle routes etc)

[Zoiderman]

Got bicycle. Now thinking, the one ltd co bought road hybrid bike. Can ltd justify buying a second bicycle that gets used by me as well?

I'd get a mountain bike this time, so can take different routes to clients (along tow path, sustrans cycle routes etc)

I don't think there's an issue, as it remains a company asset. I have 7 computers, a HDD Camcorder, 2 ipads. It will go down as an asset, I presume, and you'l have to tally it all up when you dissolve your company, sell assets etc.

[MickeyP]

How about ongoing bicycle maintenance costs if the bike is owned by the company? Claimable?