Cycle To Work Scheme: RIP?
28/07/11 18:52 Filed in: News
I might have got this wrong, so excuse me if it is, but as I understand it, due to new Euro legislation, from Jan next year anyone buying a bike on the Cycle To Work scheme thru their employer will have to pay the VAT. Previously this was deducted from the price by your employer. This means the initial cost of the bike will go back what it is on the shop floor: RRP, or RRP minus any discount the dealer offers.
Given the changes made last year to the value of the bike and payment at the end of the scheme, this mean you will be pretty much paying full ticket price. Essentially all the scheme will be good for is a way to spread the payments over a year, like interest free finance.
I think this will once and for all spell the total and utter death of the scheme.
More once we have the full facts.
Given the changes made last year to the value of the bike and payment at the end of the scheme, this mean you will be pretty much paying full ticket price. Essentially all the scheme will be good for is a way to spread the payments over a year, like interest free finance.
I think this will once and for all spell the total and utter death of the scheme.
More once we have the full facts.