Cycle To Work Scheme - Reclaiming Tax ? - Contractor UK Bulletin Board

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orac replied

23 May 2009, 14:40
Just get a bike via your company

Just get a bike via your company and write off against tax. If you get one over 2K you can claim the VAT back, even if on the flat rate scheme. You can also include lights, bags etc., as they count as bringing a capital item into use.
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gingerjedi replied

23 May 2009, 07:38
Originally posted by swebb View Post

Well my accountant confirms that the company can by the bike as long as I use it for work. How the hell anyone would know if its used for work or not I've no idea !

When you submit a £600 fuel claim?
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threaded replied

23 May 2009, 04:33
Not quite on topic, but any of you permies out there beware of the Cycle to Work scheme, as many companies have been using the opportunity to slip in 'other' changes to your work contract.
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OwlHoot replied

22 May 2009, 22:25
Buy a top of the range folding bike for emergencies, and keep it in the boot of the car you use for commuting to work. That should be OK, surely.
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swebb replied

22 May 2009, 20:05
Well my accountant confirms that the company can by the bike as long as I use it for work. How the hell anyone would know if its used for work or not I've no idea !
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badger7579 replied

19 May 2009, 15:11
As far as I know the official cycle to work scheme is aimed at large companies. ie they take out the administration element that the company would have to do.

If like me you're Ltd you can purchase a bike directly with company funds up to a max of £1000 and submit the receipt to your accountant.

Simple's..
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chef replied

19 May 2009, 15:08
what do your accountants say?
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b0redom replied

19 May 2009, 14:51
Yeah, I'm interested in this too.

I splashed out last year on a bottom of the range hybrid. I'm finding that I'm starting to do more and more commuting. If I can get back 31% it might be worth an upgrade....

Cheers...
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swebb started a topic Cycle To Work Scheme - Reclaiming Tax ?

19 May 2009, 14:31
Cycle To Work Scheme - Reclaiming Tax ?

Hi,

Where I am contracting at the moment a lot of the permie staff are buying bikes and cycling to work, they get around 31% off the price of the bikes via the governments cycle to work scheme.

Is it possible to get a similar discount via your own Ltd company ? As far as I can make out and shop which you purchase a bike from needs a voucher supplied from the employer.

Cheers

Steve
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