Cycle to Work scheme
Posted this thread in the UK forum but thought I might get more visibility here.
Just been informed that my employer (HP) is taking part in the UK Cycle to Work scheme.
This is great new for me as I was thinking of buying a new summer bike anyway
For those who don't know what this is it is basically a hire purchase agreement between the employer and employee. The employer gives a certificate to the employer for a max of £1000 to spend on bikes and kit and I need to commute to work 50% of the time (can't see how this can be monitored though
). Not sure but it looks like if I bought a bike for £1000 then over the 12 months contract period I would only need to pay back £623 due to tax allowances etc.
More info can be found http://www.cyclescheme.co.uk/
I am due to speak to someone for more info next week so if anyone has any specific questions I might be able to ask them.
I am interested to see if anyone has taking this on and if there are any pitfalls or advice anyone may have.