Nah, the cycle to work scheme is unworkable for contractors. For most people actually. Generally companies that encourage it are really sliding some contract changes in by the back door.
Oh, you didn't know you get a new work contract?
Ah, they don't quite make that bit too clear do they...
threaded in "If it sounds too good to be true, it probably is" mode
&
threaded in "where there's a scheme there's a schemer" mode
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I guess the umbrellas might be reluctant to get involved because it's hassle for them with, probably, no advantage at all. A normal employer at least gets to "avoid the NI contribution of 12.8% on the value salary sacrificed" [source], but as a contractor that's paid by you anyway, so no actual saving for the umbrella.
Halfords will set up the scheme for you, so maybe you could just speak to your umbrella co contact and ask for it to be fitted in to your pay calculations somehow? Depends on your relationship with them I suppose. As you say, they could get a bit of extra business by plugging it as a perk of sorts, and droning on about how Green they are too.Leave a comment:
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If you go for the bicycle on expenses scheme , you can also claim up to one massage for your legs per day. (£40 inc BJ)Leave a comment:
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I have 'Threaded' engraved on my bikes and claim the whole lot, cost, maintenance, etc. as advertising. Also the sponsorship of 'Team Threaded', who incidentally are racing again this coming Sunday.Leave a comment:
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Cycle to Work scheme & umbrella companies...
Hi all,
I like to use umbrella companies because I'm not very organised and it makes my life simpler! However I'm a keen cyclist and am really interested in making use of the cycle to work scheme (whereby you can basically get a bike and accessories tax free...), does anyone know of an umbrella company which could provide this? I don't think the big ones do, does anyone have any idea why they don't? I'd think it would attract a lot of business their way if they did...
Thanks!
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