At last!

Had some good news yesterday, at long last my Cycle to Work scheme paper work has been done. It’s only taken my company 7 months to get around to it! This means I can bimble over to Northfield Cycles for a chat with Richard and Neil! I’m at the waiting for my certificate stage.

How exciting!

More on this in due course.

4 responses to “At last!

  1. What type of bike are you after this time?

    How long is the agreement over?

  2. Yay! companies admin streams are great! Longer the better, and why only have duplicate when triplicate is so much better 😉

    Also – same question as Toby, what you going for?

    My co did the scheme last year but wont be repeating it, which is rather sad

  3. I spent 15 minutes at the link you provided and I still can’t quite figure this out. At first, I thought the government would reimburse your company if they bought you a bike. But it appears you are not the owner of the bike, but only a renter. So you still pay money. After a year, you get the opportunity to buy your one-year old bike that you have been renting for a year. Or you can get a new bike and rent that. Or you can keep renting your old bike. Phew!

    Complicating matters is the British use of the word, “scheme.” In American English, it tends to me a crafty, complicated plot. Villains make “schemes.” Then again, maybe that’s not such a bad use of the word in this case, either!

  4. Hi Clive,
    Love reading your blog, many thanks for the entertainment! I went for the cycle scheme last year as several colleagues signed up for it. Research showed that my cash saving was hidden away in the process of my monthly payment being deducted before income tax and NI was calculated, hence the saving is there but not readily apparent. Next issue was the fact that I didn’t own the bike, apparently everyone used to just let you have the bike but Rolls Royce ran into problems with HMRC who were strangely concerned that people were buying kiddies bikes etc when they themselves where blokes at RR motors. Seems there was / is a bit of fiddling going on, the upshot was that employers now let you buy the bike off them for a % suggested by the revenue based on age of bike, length of scheme etc. I think it works out at about 15% of original cost for 12 month schemes, something in that region.

    Anyway, I went to the bike shop and mentioned the scheme to them, they were all ready to go for that but I said that I wanted a bike quickly rather than wait until the paperwork came through, quick result was that the shop gave me a great discount on the bike and clobber which closely matched the saving I would make on the cycle scheme, hence I didn’t bother with it in the end and now my mates at work are all still paying their monthly amounts direct from their pay 🙂

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