Cycle 2 work scheme

Creditshampoo · Post by **Creditshampoo** » 28 Feb 2016, 20:35

Right so my 18 months are up in a month or two...been laying around £9 a week for a boardman bike was £800.

It's pretty f****d but I wanna keep it. Some parts need replacing (the bottom bracket has been replaced 2 times by halfords during the first 12 months.....I heard that as the bike isn't actually mine that it can be repaired for free. Is this true?

And you guys are saying if I wanna keep the bike I gotta pay back the tax I saved?! Surely that's totally against the point of getting the bike in the f***ing first place

Post by **Pathfinder** » 08 Mar 2016, 16:20

So i'm interested in this scheme. Even though it's not 'as good' as it used to be apparently I am still wanting to go ahead with it.

Can fixed term contracts even apply?

As i'm not a perm I don't have access to my bundle so can't apply from there - it seems ridiculous to me but it's RM after all

toomuchcoke · Post by **toomuchcoke** » 19 Mar 2016, 15:47

arnold cheshire wrote:32% saving there's no national insurance due either

10% discount on the price of the bike at Halfords(though this happens in the background so people might not actually notice), then the 32% of no income tax & national insurance applies. So my ~£900 Boardman is actually going to cost me ~£589.81. Then there's the £1 transfer fee, and then 1 year of having my tax code reduced by £189 so the overall cost is £628.61 if my sums are correct. So a fraction over a 30% discount if my sums are correct.

Post by **IloveMYredTROLLEY!** » 19 Mar 2016, 17:24

toomuchcoke wrote:
arnold cheshire wrote:32% saving there's no national insurance due either
10% discount on the price of the bike at Halfords(though this happens in the background so people might not actually notice), then the 32% of no income tax & national insurance applies. So my ~£900 Boardman is actually going to cost me ~£589.81. Then there's the £1 transfer fee, and then 1 year of having my tax code reduced by £189 so the overall cost is £628.61 if my sums are correct. So a fraction over a 30% discount if my sums are correct.

Don't forget insurance for the bike home and away, if the bike is nicked or damaged, you still have to keep paying the salary sacrifice while RM technically own the bike until the transfer of ownership ~18 months down the line.

toomuchcoke · Post by **toomuchcoke** » 19 Mar 2016, 20:54

IloveMYredTROLLEY! wrote:Don't forget insurance for the bike home and away, if the bike is nicked or damaged, you still have to keep paying the salary sacrifice while RM technically own the bike until the transfer of ownership ~18 months down the line.

But you'd be paying for the bike insurance (or not, as the case may be

) either way, so it's not like that's an additional cost associated with the C2W scheme.

katyphillpot · Post by **katyphillpot** » 01 Jun 2016, 19:47

What paperwork is needed to collect bike all i have been sent is a hire agreement and order form but halfords have said its not the correct paperwork

Post by **1969tonka** » 01 Jun 2016, 20:19

Cycle2work will email you a collection letter which you print off and take along , if in doubt just call them

Creditshampoo · Post by **Creditshampoo** » 03 Jun 2016, 21:16

Signed up for this again with the benefits page and its said it will be electronically sent to my email anyone know how long it takes to arrive?

Jhaigh82 · Post by **Jhaigh82** » 12 Jun 2016, 18:57

I've applied for this about a month back now, had no letters or email, but they've taken 12 quid out of my wage this week? Buggers. Do I ring HR? Does anyone know or had the same issue?

Creditshampoo · Post by **Creditshampoo** » 02 Jul 2016, 14:24

Well i apllied 5 weeks ago. Had 4 lots of £12 taken out my last 4 pays....no sign of the email even HR doesnt know what a awful way to run a company

camelelf · Post by **camelelf** » 05 Jul 2016, 17:22

Creditshampoo wrote:Well i apllied 5 weeks ago. Had 4 lots of £12 taken out my last 4 pays....no sign of the email even HR doesnt know what a awful way to run a company

Would you mind posting back if you receive it? I've been waiting a month for mine now too. All HR could tell me is that it will be sent by email if you have an email on mybundle otherwise it'll be sent in the post, not very helpful.

Creditshampoo · Post by **Creditshampoo** » 05 Jul 2016, 21:56

camelelf wrote:
Creditshampoo wrote:Well i apllied 5 weeks ago. Had 4 lots of £12 taken out my last 4 pays....no sign of the email even HR doesnt know what a awful way to run a company
Would you mind posting back if you receive it? I've been waiting a month for mine now too. All HR could tell me is that it will be sent by email if you have an email on mybundle otherwise it'll be sent in the post, not very helpful.

I rung up yesterday and demanded it be escalated to HR who then rung me back asking me to phone halfords.
I phoned halfords only to be told it had been sent to my royal mail email address 3 weeks ago....ive used it once and didnt even use it on my application so god knows why they used it

camelelf · Post by **camelelf** » 08 Jul 2016, 15:28

Creditshampoo wrote:
camelelf wrote:
Creditshampoo wrote:Well i apllied 5 weeks ago. Had 4 lots of £12 taken out my last 4 pays....no sign of the email even HR doesnt know what a awful way to run a company
Would you mind posting back if you receive it? I've been waiting a month for mine now too. All HR could tell me is that it will be sent by email if you have an email on mybundle otherwise it'll be sent in the post, not very helpful.
I rung up yesterday and demanded it be escalated to HR who then rung me back asking me to phone halfords.
I phoned halfords only to be told it had been sent to my royal mail email address 3 weeks ago....ive used it once and didnt even use it on my application so god knows why they used it

Did you manage to get it then? I rang up Halfords and was told because I didn't have an email address on my royal mail bundle they couldn't send it, and they would have cancelled it after 12 weeks, even though they had my address.

Luckily, the guy on the phone just emailed it to me there and then. Off to Halfords now

Post by **wallop** » 25 Jul 2016, 15:52

So you go to my benefits type in the amount you want.
Then what happens next? I'm talking about cycleplus.

Post by **rogersh** » 21 Oct 2016, 17:29

Creditshampoo wrote:Right so my 18 months are up in a month or two...been laying around £9 a week for a boardman bike was £800.

It's pretty f****d but I wanna keep it. Some parts need replacing (the bottom bracket has been replaced 2 times by halfords during the first 12 months.....I heard that as the bike isn't actually mine that it can be repaired for free. Is this true?

And you guys are saying if I wanna keep the bike I gotta pay back the tax I saved?! Surely that's totally against the point of getting the bike in the f***ing first place

My 18 Months was up in January 2016. I am awaiting P800 from HMRC - which is due in October if you owe tax. Has anyone in a similar situation had notification relating to the fact that as stated in the hire agreement "If your employer chooses to sell the selection to you, you will have to pay tax on the difference between the sale price and the fair market value.
As stated, the idea to save tax & then pay most of it back seems to be different from how the scheme used to operate, as I was told you paid a nominal fee, if you wanted to keep the bike, on completion of hire period.