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Reply to: Anyone ever got their Ltd Company to buy them a bike under the Govts Green scheme?

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Previously on "Anyone ever got their Ltd Company to buy them a bike under the Govts Green scheme?"

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  • wiggabaiters
    replied
    Hmm so that MMRC link seems to say My Ltd Company could buy a bike and loan it to me. I will check with my accountants and see if they are cool with it. Most likely not!

    Leave a comment:

  • Clare@InTouch
    replied
    A company can buy a bike, and safety equipment, and loan it to employees with no tax consequences anyway (provided your business use of the bike is at least 50% of it's total use). The specific schemes you see mentioned are more aimed at larger companies who do salary sacrifice arrangements.

    EIM21664 - Particular benefits: exemption for bicycles

    Leave a comment:

  • doodab
    replied
    I looked into it, there was quite a bit of paperwork involved in registering my company for the scheme IIRC and I couldn't be arsed with it for a £500 saving. Of course, this was back when money grew on trees...

    Leave a comment:

  • wiggabaiters
    started a topic Anyone ever got their Ltd Company to buy them a bike under the Govts Green scheme?

    Anyone ever got their Ltd Company to buy them a bike under the Govts Green scheme?

    I had heard about this before where an employer can buy a bike for up to a grand and you get the chance to rent, then buy it back off them. Details here specialist cycle and mountain bike servicing in Ringwood : Common Assault
    I'm in the market for a new mountain bike for the short treck from my flat to the place of work, and it would be even nicer on a £1k machine rather than an old clunker...

    or is it too much of a scam?
    Tags: None

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  1. Contracting
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    2. Business / Contracts
      1. Coronavirus Assistance
    3. Accounting / Legal
      1. Umbrella Companies
      2. HMRC Scheme Enquiries
      3. The Future of Contracting
      4. IR35 Reform
    4. Technical
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    1. Light Relief
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