On this one again... Looks like the company are not keen to implement this. General apathy, not critical to business and level of work to offer to all employees. So on a different angle we have a gym membership scheme whereby all employees can claim ~£25 a month to offset against a gym membership. I would like to claim this against the purchase of a bike.
It can currently be claimed against gym, country club, golf club etc. My gym is the bike ride to work - and membership fee is the price of a bike.
Any chance I can wangle this one? Anyone else done a similar thing? Will I have to form a Commuter Club with membership of one (currently) and a joining fee that provides a bike?
Unlucky. My employer also pulled out of this one - _after_ giving me the go-ahead and saying all paperwork would be in place "by Friday".
This seems to be a recurring theme that no-one can easily find out what the rules are and employers are worried that something may come back to bite them I think some letters to the politicians will be in order after the election - after all they've put this scheme in place for a reason, and if it's not working as intended they really need to do something about it.
There is special provision for gym membership not to be classed as BIK, so your "commuter club" will not work. However, on this page: http://www.inlandrevenue.gov.uk/manuals/eimanual/EIM21664.htm it says employers can provide vouchers for bicycle hire - can you arrange for your LBS to hire you the bike for £25 a month, then sell it to you when they have recovered all their costs?
On 12/4/05 11:43 am, in article [email hidden], "iakobski"
Quoted message said:
There is special provision for gym membership not to be classed as BIK, so your "commuter club" will not work. However, on this page: http://www.inlandrevenue.gov.uk/manuals/eimanual/EIM21664.htm it says employers can provide vouchers for bicycle hire - can you arrange for your LBS to hire you the bike for £25 a month, then sell it to you when they have recovered all their costs?
Or get your SO to start a bike hire company ;-) With turnover expected to be less than the VAT registration threshold, one may well get away with it[1].
...d
[1] meaning that 'this would be an acceptable form of accounting for the taxman', not 'one is swindling the government/people of taxes which should be paid'.
Or get your SO to start a bike hire company ;-) With turnover expected to be less than the VAT registration threshold, one may well get away with it[1].
...d
[1] meaning that 'this would be an acceptable form of accounting for the taxman', not 'one is swindling the government/people of taxes which should be paid'.
You'd have to declare a conflict of interest in the placing of the hire contract and the taxman would want to know that the rental charge was fair and reasonable and not just a way of giving you money outside PAYE. Otherwise why £25 and not £100 or £1000 a month?
