Government Bike 2 Work Scheme

[Graham C]

Has anyone done the Bike2Work scheme to buy a new bike by any chance?  Was thinking of registering my place and getting a new bike but I did read an article saying that it's not all it's cracked up to be. It was only one article and it was a long time ago mind.

Sounds like a good scheme?

[millidonk]

My work do it and offered it to me when I moaned about not getting my fuel subsidised but our London office gets tube allowance and shit. (I do a daily 108 mile commute. A bike isn't going to help much..)

Basically the comapny buy it, then lease it back to you and you pay it off monthly. As I recall its tax free. It's good if you want to get a proper expensive bike but can't afford to flick it in.

[kinboshi]

My work do it and offered it to me when I moaned about not getting my fuel subsidised but our London office gets tube allowance and shit. (I do a daily 108 mile commute. A bike isn't going to help much..)

Basically the comapny buy it, then lease it back to you and you pay it off monthly. As I recall its tax free. It's good if you want to get a proper expensive bike but can't afford to flick it in.

Hardly the attitude that's going to get you into the cycling team for Rio 2016.

[Eso Kral]

My work do it and offered it to me when I moaned about not getting my fuel subsidised but our London office gets tube allowance and shit. (I do a daily 108 mile commute. A bike isn't going to help much..)

Basically the comapny buy it, then lease it back to you and you pay it off monthly. As I recall its tax free. It's good if you want to get a proper expensive bike but can't afford to flick it in.

Hardly the attitude that's going to get you into the cycling team for Rio 2016.

Or shift that Baby bump!!

[millidonk]

They actually said to me why don't you drive half way then cycle the rest. I just laughed. If they did a Cegway 2 work scheme I might take them up on that.

[ACE2M]

Loads of my friends did it and seemed happy with it and they are all clever types - its about saving the tax. I recall numbers like £200 off an £800 bike.

[LOJ]

Yeah its a great scheme.  I've had 2 bikes so far, and if you are spending up to £1k, you get a decent tax saving at the end of it all and they take it out of wages monthly.

only 1 downside, you cant sell the bike for 3 years after you have paid it off (in the terms & Cond), but dont think they would ever check.

[Graham C]

Cheers, will look into some more.  I'll start out on my current mountain bike for a few days to see if I actually get in to cycling to work before setting it up but spending approx £500 or so on a road bike and saving some money would be ideal.

[calella]

I did this twice with my last work and i got two bikes costing approx 250 but actually got vouchers for £400 and just spent the rest on accessories for the bikes.

The monthly amount they took from my salary went on as a credit so you paid less tax.

I do recall having to pay an extra £10 at the end of the year for the bike to then belong to me otherwise i had to package it up and send it back to head office(lol at that).

Would deffo recommend the scheme tho and also helps on the fitness element too.

[FallenAngelAlex]

Ive done it. I usually have a three mile bus ride (or walk on a nice day) before getting on a train. I got mine for the bus part. What comes out of my wages each month is only about six round more a month than what i would be spending on the bus so good news for me imo as i obviously get to keep the bike at the end (id have no place to keep a bus anyhow)