New window opens soon and our place does it. Anyone else taken advantage? Is it worth it?
Sounds like something from the 1920’s.At the next round of wage negotiations the employers will say you no longer need the wages to run a decent car.You can use the bicycle for work and the bus or train for recreational trips.Every little helps to pay for the guvnor’s new car upgrade. 
I did a few years back,it is worth doing as you save the tax on the bike and as it comes out of your wages monthly you don’t really notice it gone.
At the end of the 12 months you “buy” the bike from your company as during the 12 month period technically they own it.
Our lot offer a cracking bike deal; they give you a voucher for a grand, you pay back £5 per week for six months and after that nothing! You keep the bike and get to annoy other road users very cheaply.
I have cycled for most of my life and would say if your commute to work is less than four miles then go for it. The bike time wont be that much different from driving.
on the A66 teatime rush hour and then back home about 4am ■■
5 miles each way…
Not gonna happen…
End of the day it saves you some money. So yeah it’s worth it.
Is the Lycra and funny helmet supplied…or does that have to be borne by yourself…on saying that…what about the wet weather gear… 
the maoster:
Our lot offer a cracking bike deal; they give you a voucher for a grand, you pay back £5 per week for six months and after that nothing! You keep the bike and get to annoy other road users very cheaply.
£1000 bike for £130, you would be mad not to do it then ebay the bike. Some decent looking electric bikes coming out now, pester work to set up a charging point, jobs a good un.
How will you carry all your night out / cab hopping gear…■■?
Goldfinger:
How will you carry all your night out / cab hopping gear…■■?
Panniers and a bicycle trailer
This was tried at our place…don’t think anybody took advantage of it.
If I remember correctly you paid monthly for a bike over so many months. However it certainly wasn’t £5 per month. When I did the sums you ended up paying around £1000 for a pushbike that I could get at Halfords for £250!
msgyorkie:
This was tried at our place…don’t think anybody took advantage of it.
If I remember correctly you paid monthly for a bike over so many months. However it certainly wasn’t £5 per month. When I did the sums you ended up paying around £1000 for a pushbike that I could get at Halfords for £250!
You need a new calculator,it’s basically the cost of the bike minus 20%…simple as that.
Sign up for the scheme, get yourself a nice bike cheaper than retail and on 0% interest h.p then carry on using the car, there is no clause that says you have to prove you use the bike for work.
msgyorkie:
This was tried at our place…don’t think anybody took advantage of it.
If I remember correctly you paid monthly for a bike over so many months. However it certainly wasn’t £5 per month. When I did the sums you ended up paying around £1000 for a pushbike that I could get at Halfords for £250!
Difficult to understand how that would be, since you (or rather, your employer) can source the bike from Halfords anyway. The scheme works by allowing you to use your monthly payments as a tax break (i.e. you pay no income tax or NI on that figure as you “sacrifice” that part of your salary). That’s it. No special pricing, no restricted choice of bikes (or accessories). You just choose a bike and accessories/kit up to a maximum value of £1000 and pay for it over 12 months at 0% interest. Assuming you’re a basic rate tax payer this means you save 32% (tax and NI). Your employer also saves 13% due to no employer NI contributions on the amount of your payment. Strictly speaking the bike should be used primarily for commuting, but who is going to be checking up to see if you do?
xichrisxi:
msgyorkie:
This was tried at our place…don’t think anybody took advantage of it.
If I remember correctly you paid monthly for a bike over so many months. However it certainly wasn’t £5 per month. When I did the sums you ended up paying around £1000 for a pushbike that I could get at Halfords for £250!You need a new calculator,it’s basically the cost of the bike minus 20%…simple as that.
Cost minus 32% actually (the payments are free of both tax and NI).
Roymondo:
xichrisxi:
msgyorkie:
This was tried at our place…don’t think anybody took advantage of it.
If I remember correctly you paid monthly for a bike over so many months. However it certainly wasn’t £5 per month. When I did the sums you ended up paying around £1000 for a pushbike that I could get at Halfords for £250!You need a new calculator,it’s basically the cost of the bike minus 20%…simple as that.
Cost minus 32% actually (the payments are free of both tax and NI).
No it’s 25% there’s 7%fee at the end of the payments,same for higher rate tax payers
I usually buy bikes hardly used second hand,lots of people get high rate getting bikes n rapidly loose interest,or last two bought black Friday sales last two years,saved £600 and £800 respectively,cycle to work scheme still worth checking out though
lynchy:
Roymondo:
xichrisxi:
msgyorkie:
This was tried at our place…don’t think anybody took advantage of it.
If I remember correctly you paid monthly for a bike over so many months. However it certainly wasn’t £5 per month. When I did the sums you ended up paying around £1000 for a pushbike that I could get at Halfords for £250!You need a new calculator,it’s basically the cost of the bike minus 20%…simple as that.
Cost minus 32% actually (the payments are free of both tax and NI).
No it’s 25% there’s 7%fee at the end of the payments,same for higher rate tax payers
I usually buy bikes hardly used second hand,lots of people get high rate getting bikes n rapidly loose interest,or last two bought black Friday sales last two years,saved £600 and £800 respectively,cycle to work scheme still worth checking out though
Depends on the provider used for the scheme. With Cyclescheme there is indeed a 7% fee at the end of the 12 month payment period. With other providers (such as Bike2Work, which is the one Halfords use) there is no set fee - under the relevant legislation the bike is purchased by the company and may be loaned at no cost to the employee, or (as is normally done) hired to the employee for a monthly amount which means the employer recoups the cost over the 12 months. After the 12 months, ownership of the bike (still technically the property of the employer) can be transferred to the employee (either FOC or for a “reasonable” value). Cyclescheme choose to set this at 7% of the original cost. Other providers work it differently.
I’ll hold my hand up and admit my memory is a bit foggy on this. To be honest when I saw the word cycle my eyes glazed over a bit. I’ll speak to my employer tomorrow and get the information again
£1000 bike for £130, you would be mad not to do it then ebay the bike. Some decent looking electric bikes coming out now, pester work to set up a charging point, jobs a good un.
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Don’t need a charging point. Just unplug kettle plug connector pull battery . Plug a kettle type lead into a plug socket connect to battery. .my misses has an e bike does about 15 20 mph no tax no insurance no petrol. Does about 20 miles between charges.