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grantspants
Junior Member
United Kingdom
297 Posts |
 Posted - 02 September 2008 : 14:18:27
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Hi folks,
I have another query (just for a change!) which hopefully someone can help with...
the company that I work for are part of the 'You at work' scheme and I have looked at the benefits on offer. I looked at it last year but never used any of them.
I have been interested in the Bikes for work scheme for a while, which involves choosing a bicycle for you to use for work and leisure and then paying for it through your wages tax-free. As far as i'm aware its payable over 12 months and the payment comes out of your wages before the tax and N.I therfore saving on the tax.
Its all part of the government scheme.
I would like to know if it would be possible for me to take part in this scheme, as sometimes I would like to bike to work (depending on shift!).
I guess the OR may take a dim view of me using part of wages to pay for a bike when I go BR though.
Can anyone advise?
Thanks again  |
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zoe
Junior Member
329 Posts |
Posted - 02 September 2008 : 14:31:38
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How much are you actually talking about paying each month?? I cant imagine it would be alot for a bike?
At the end of the day even if the OR will not allow you could fund from your disposable income each month. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 14:32:18
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Hi Grantspants,
As this is deducted at source and effectively provides your "means" of getting to work (and given that we're not talking a lot of money here), my feeling is that this should be fine!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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grantspants
Junior Member
United Kingdom
297 Posts |
Posted - 02 September 2008 : 14:45:52
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It wouldn't be my only means of getting to work, I do need my car for work in general and for taking my wife to work, I will only ride a bike when shifts permit it, i.e when I start at relatively sociable daytime hours. I am allowed between £100 and £600 but I would want a good quality one and I think £600 works out as £50 per month. The problem is, I don't have much disposable income left really until we move into the rented house, which would be after BR.
So what do you think guys? Would I be ok to do it without the OR's authorisation because the offer ends on 19th september and I don't go BR (as long as the judge makes me BR) until september 16th?
Many thanks
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harbourmaster
Junior Member
346 Posts |
Posted - 02 September 2008 : 14:48:18
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Isn't there something about applying for credit above £500?
One of the experts will advise I am sure |
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zoe
Junior Member
329 Posts |
Posted - 02 September 2008 : 15:05:07
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My personal opinion is No.
I would see this as a non essential spend, however only the OR can make that judgement! |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 15:29:33
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Hi Grantspants,
Tempting as it may be, I'm afraid that I agree with Zoe given the amount you're talking about. Wait until you've been discharged.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 02 September 2008 : 16:10:51
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£600 for a bike?!?! I'd want gold wheels for that!
Sorry Grantspants, I'm only joking - I'm a bit of a cheapskate!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 September 2008 : 16:38:40
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For that kind of money, I'd want it to have a 600cc engine :)
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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grantspants
Junior Member
United Kingdom
297 Posts |
Posted - 02 September 2008 : 21:38:29
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Thought that might be the general consensus, but hey you never know
Thanks for the help |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 02 September 2008 : 21:40:40
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Keep us posted GP on how you get on with that and the OR.
Keep Smiling
Jo :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 02 September 2008 : 23:24:30
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I think the cyclescheme is brilliant. I got a bike for one of my employees when I had the restaurant, it was his only means of transport though. It cost just under £1000 but I claimed the VAT back so he got it for £850ish and then it was deducted from his gross pay for one year. I hope you do get to do it Grantspants, you never know. X
Skippy and Julian, I know someone(not me!) who has a £2500 bionicon mountain bike! |
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grantspants
Junior Member
United Kingdom
297 Posts |
Posted - 03 September 2008 : 09:01:34
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Thanks viki,
Yeah I like the scheme too, but I think its best to wait until I'm discharged like they say. Saves confusing matters a bit
And £600 isn't really such an expensive bike actually, I mean £600 is a lot of money, but if you go into a decent bike shop that would be one of the cheaper ones!
Thanks again |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 03 September 2008 : 11:21:07
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Wow, I had no idea you could spend that kind of money on a bicycle! You live and learn .... or in my case, just live :)
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 03 September 2008 : 11:28:45
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I'd be frightened to ride it - I wouldn't want to get the tyres dirty!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 03 September 2008 : 11:30:51
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Indeed :)
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Topic |
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Experts - 'You at work scheme'
