Cycle to work

[anksta]

Hi, I know this question has probably been asked and answered on here but I can't find anything recent.

I want to buy a bike to ride to where I'm currently contracting, I'm the only employee of my company, can I buy a bike etc. through the Cycle to Work scheme?

Debating getting one today so want to know if I can use my company credit card.

Have seen a few things saying there's absolutely no problem, and a few others that say it's not eligible for self employed people, which I know is technically not true but that's often used as an umbrella term.

Thanks

 

[mudskipper]

Hi, I know this question has probably been asked and answered on here but I can't find anything recent.

I want to buy a bike to ride to where I'm currently contracting, I'm the only employee of my company, can I buy a bike etc. through the Cycle to Work scheme?

Debating getting one today so want to know if I can use my company credit card.

Have seen a few things saying there's absolutely no problem, and a few others that say it's not eligible for self employed people, which I know is technically not true but that's often used as an umbrella term.

Thanks

The cycle to work scheme allows employees to pay for bikes with salary sacrifice.

But YourCo can simply buy a bike that is available for employees to use - you don't need to use the scheme. There used to be a useful guide - will see if I can find it.

Edit: Post from NW here - they used to have a leaflet on their website, but it appears to have gone

https://forums.contractoruk.com/acc...ng-bicycle-through-my-own-ltd.html#post894119

Transfer to employee values here

https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim21667a

 

[anksta]

The cycle to work scheme allows employees to pay for bikes with salary sacrifice.

But YourCo can simply buy a bike that is available for employees to use - you don't need to use the scheme. There used to be a useful guide - will see if I can find it.

Yeah that'd be great thanks mate, do you know if it's recent?

 

[DaveB]

Company bicycles are exempt from BIK and other related company vehicle rules provided they are available to all employees and used mainly for transport to and from work.

https://www.gov.uk/expenses-and-benefits-bikes-for-employees

MyCo. has one and when working away I regularly use it for commuting between accommodation and client sites.

 

[Paddy]

Hi, I know this question has probably been asked and answered on here but I can't find anything recent.

I want to buy a bike to ride to where I'm currently contracting, I'm the only employee of my company, can I buy a bike etc. through the Cycle to Work scheme?

Debating getting one today so want to know if I can use my company credit card.

Have seen a few things saying there's absolutely no problem, and a few others that say it's not eligible for self employed people, which I know is technically not true but that's often used as an umbrella term.

Thanks

Connect a USB socket to the dynamo and put it through the books as a laptop charger.