Tax free bicycles

Re: Tax free bicycles

Martin Atkinson — Wed, 09 May 2012 09:20:16 GMT

[quote user="Michael Woodhouse"]

[quote user="Martin Atkinson"]That said, there isn't a bike shop within 10 miles of me any longer so I don't have much choice but to revert to the internet.[/quote]

Or get in the car and drive to one!

[/quote] Sacrilege. Two of my bikes came from the local bike shop before it closed down, including my best one which was discounted from £3.5K to 2.5 as it was an ex. demo (I didn't turn that discount down!) one came from Wiggle on-line and one from St John Street Cycles in Bridgewater which is an LBS of sorts only with big ambitions, it is a bit far to drive but my custom build bike was ordered on the telephone and posted. I drove all the way to Gatwick to Evans' sale to get a bike for my daughter so there are many ways to skin a cat and avoid the dreaded H word although to be far Evans isn't held in much higher esteem amongst bikies than H******s!

Re: Tax free bicycles

Michael Woodhouse — Wed, 09 May 2012 00:44:31 GMT

[quote user="Martin Atkinson"]That said, there isn't a bike shop within 10 miles of me any longer so I don't have much choice but to revert to the internet.[/quote]

Or get in the car and drive to one!

Re: Tax free bicycles

Rob Loxley — Wed, 09 May 2012 00:03:43 GMT

[quote user="Martin Atkinson"]If we don't support the local traders they will disappear[/quote]

Sadly, like us, they struggle to compete on price of bits, and should be making their money on the service they offer. I'm quite happy to pay the LBS to true my wheels and would be happy to service my bike if I wasn't happy tinkering myself, but on equipment and spares sadly they're in competition with the big internet boys and can't hold anything like the stock range. In fact Halfords is pretty consistently outpriced by the online retailers so with the clueless service, I really can't see the reason to shop there.

Re: Tax free bicycles

Ian Mostyn — Tue, 08 May 2012 22:44:59 GMT

[quote user="robloxley"]Can you not buy a practice bike and save the vat and get capital allowance?

[/quote]

Not sure if I could get away with that but I will have a word with the accountant to see if carbon fibre is an allowable expense

Ian

Re: Tax free bicycles

Bob Russell — Tue, 08 May 2012 18:01:21 GMT

We have a good local bike shop. They hire cycles to the tourists in the New Forest.

We also had a second bike shop but the owners have now retired.

We bought all our bikes from one or other. They have cheaper bikes for us mere mortals and eye-wateringly priced ones for those enthusiasts! Very good service.

Re: Tax free bicycles

Martin Atkinson — Tue, 08 May 2012 16:52:46 GMT

[quote user="plantagenet"]

What hypocrites we all are (pleads guilty) - what about your friendly local independent cycle shop - one of my clients is one and is struggling.

[/quote] Our local bike shop is no more. It was owned by Steve Heffernan - those who are in the know will be aware he was a Commonwealth Games pursuit champion, World championship bronze medallist, British professional champion and Tour of Britain stage winner to mention but a few of his achievements. He had a very nice bike shop in West Drayton but was undone by poor position, the large chains and the internet. I would buy whatever I could from him and even refused discount when it was offered although he moaned when I charged him a modest fee to look at his hamster!. If we don't support the local traders they will disappear and the likes of Tesco and Halfords will have us by the short hairs. It is hypocritical, as already suggested on here, to do otherwise if we expect out clients to continue to beat a path to our door. That said, there isn't a bike shop within 10 miles of me any longer so I don't have much choice but to revert to the internet.

Re: Tax free bicycles

plantagenet — Tue, 08 May 2012 15:31:19 GMT

[quote user="Laurence Webb"]And, for Halfords haters the scheme can be done anywhere that sells bikes, so hurry along to Argos and don't forget to check out Tesco Direct too.[/quote]

What hypocrites we all are (pleads guilty) - what about your friendly local independent cycle shop - one of my clients is one and is struggling.

Re: Tax free bicycles

Liz w — Tue, 08 May 2012 11:34:07 GMT

My non-vet husband's employer has the cycle to work scheme, which my husband seems to think is compulsory - each time it runs he thinks of a new type of bike he 'really needs'. Not such a saving with that mindset....

Re: Tax free bicycles

Mark Holmes — Mon, 07 May 2012 23:48:18 GMT

[quote user="David Mills"]

There are some strange cycling types who really hate Halfords, preferring to pay over the odds at their local bike shop. Halfords is fine just like Tesco or Asda is fine - just don't expect great service or very knowledgable staff. Their prices are good though, most of the time, and being a large retailer they often have offers on that local bike shops don't - they knock the spots off overpriced overhyped places like Evans for price any day.

Their range of Chris Boardman bikes (only UK stockist) are quite simply superb - you will not find a better value product anywhere.

The cycle to work scheme is a great idea, and a great way of getting a bike you otherwise couldn't afford - and someone above said, you can easily get around the 'final price' by just continuing to 'borrow' the bike off work...forever.

[/quote] Isn't it funny how we on the one hand expect clients to value and pay for service when we provide it but often go for the cheapest when we have to pay for it.

Re: Tax free bicycles

Rob Loxley — Mon, 07 May 2012 22:19:40 GMT

[quote user="Ian Mostyn"]The Cycle2work scheme only applies to employees. Not so good for anyone in partnership[/quote]

Can you not buy a practice bike and save the vat and get capital allowance?

Re: Tax free bicycles

Ian Mostyn — Mon, 07 May 2012 21:27:27 GMT

The Cycle2work scheme only applies to employees. Not so good for anyone in partnership

Ian

Re: Tax free bicycles

Martin Atkinson — Mon, 07 May 2012 18:27:14 GMT

[quote user="David Mills"]There are some strange cycling types who really hate Halfords, preferring to pay over the odds at their local bike shop. Halfords is fine just like Tesco or Asda is fine - just don't expect great service or very knowledgable staff.[/quote] The second half of your sentence qualifies the first David. I would buy a bike from Halfords but in truth Boardman are the only ones worth having for a serious cyclist.. If you're knowledgeable about the product you want and a competent home mechanic, and don't mind correcting all the mistakes Halfords' so called 'mechanics' have made assembling them then its OK but in truth their are plenty of independent bikes shops which aren't a lot better which is why certain strange cycling types go to shop they trust. Its a bit like your clients preferring to come to you because they know and trust you and are prepared to pay a bit more than at the corporate up the road - nuff said?

Re: Tax free bicycles

Neil Wheadon — Mon, 07 May 2012 17:12:37 GMT

Our local halfords sells child helmets at £22, local bike shop £18 (exactly the same), Tyres, locks all about 10% more expensive than my local bike shop and I get free advice, fitting and a 10% discount for being a CTC member.

We run an 8 year old Audi, needs oil, Halfords £36, posh Audi garage with a free latte £32.

It applies to supermarkets too, people assume they are cheaper when in reality........

Neil

Re: Tax free bicycles

David Mills — Sun, 06 May 2012 12:39:36 GMT

Their range of Chris Boardman bikes (only UK stockist) are quite simply superb - you will not find a better value product anywhere.

Re: Tax free bicycles

Rob Loxley — Sun, 06 May 2012 10:10:37 GMT

Your employer doesn't actually need to go through any 3rd party scheme, if they are happy to set it up themselves (http://www.direct.gov.uk/en/TravelAndTransport/Cycling/DG_190101)

Some caveats:
many bike shops will only take cyclescheme et. al. vouchers on full price bikes; for me it was cheaper to buy the bike at a hefty negotiated discount and own it outright and not have any further faff. If my employer had been running their own scheme, I could have then used this even on the discounted price.

In early years of operation many employers transferred ownership of the bike to the employee at the end of the hire period at zero or nominal price; the taxman has now wised up to this and wants you to pay full market value (at HMRC defined rate, also now plus VAT) which on a decent 1yo bike (plus your previous 'hire' costs) negates much of the previous saving. There are various ways that people now run their schemes to improve the employee benefit e.g. lowering the hire cost, or by not transferring ownership at the end of the hire period and just letting you continue to borrow the bike for an extended period until the full market value is much less.

Re: Tax free bicycles

Laurence Webb — Sat, 05 May 2012 23:08:58 GMT

Fair point John. Cheap at half the price!

And, for Halfords haters the scheme can be done anywhere that sells bikes, so hurry along to Argos and don't forget to check out Tesco Direct too.

Re: Tax free bicycles

John Rimmer — Sat, 05 May 2012 20:54:12 GMT

For higher rate tax payers it could be 58% or 48%, depending on whether over or under gross salary of £42, 484, and therefore varying NI rates (2% or 12%).

Re: Tax free bicycles

John Rimmer — Sat, 05 May 2012 20:43:59 GMT

What, after DFS? What's so bad about Halfords?

Re: Tax free bicycles

Martin Atkinson — Sat, 05 May 2012 19:18:24 GMT

[quote user="Laurence Webb"] It's not limited to Halfords as far as I can tell.[/quote] I hope not because Halfords is the last place on earth I'd buy a bike from.