Company wants damaged c2w bike back.
- Thread starter ALIBACKROW
- Start date
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The contract I signed states that I agree to keep the goods in good repair and condition and in working order at my own expense. I'm also responsible for all damage to the goods (with the exception of normal wear and tear) and required to make good all damage at my own expense. I also agree to insure the goods either separately or through an existing policy (such as home insurance). I'm required to tell the company promptly is goods aer lost, stolen or damaged. I'm also not allowed to alter the goods or remove any part of them without prior consent.
To echo the above, you need to read the contract you signed.
To echo the above, you need to read the contract you signed.
GrumpyGregry
Here for rides.
I have to admit.... I never settled for my bike
I moved house and told my employer, who would then tell C2W, that I'd moved but they still sent the begging letter to my old address which the new tenant kindly forwarded. Thanks to them only accepting payment by cheque (in this day and age!) when I had no chequebook I never got around to sending it. And got no further reminders
Strangely one of the other options was 'donate the bike to charity' which when I inquired about they said 'oh you just give the bike to a charity shop and tell us what you've done'
I get the impression my scheme isnt the best managed at times
Chortle. I reckon in the OP's circs you could get away with returning a large bar of dairy milk to HR and everyone would be happy.
ALIBACKROW
New Member
Thanks for all the reponses! Didn't expect so many. The company has agreed to sell me the bike for a nominal fee, so they never have to know its wrecked. Case closed I think.
Angelfishsolo
A Velocipedian
- Location
- Cwmbach, South Wales
Fnaar
Smutmaster General
- Location
- Thumberland
or... as it's still their property, chance your arm and ask them to get it fixed before you'll agree to buy it
billy1561
BB wrecker
- Location
- North west England
Glad its sorted for you. Happy days.
The recommended numbers are on the HMRC website. But you can use true market value as the final ownership payment. I'm not sure what outcome the OP is wanting but one option would be to ask to pay the final installment and the market value to take ownership. Now the market value on a smashed up bike is pretty low and he could probably get a valuation to that effect. But then all he has is ownership of a smashed up bike and more cost so it may just be cheaper to hand it back, subject to what the contract says about responsibility for damage etc, and walk away. Yes, its a bit of a bummer that he has been paying for it all year, but OTOH it would have been exactly the same if it had been his own bike that got damaged.
I would be inclined to back it up with a valuation of the (smashed up) bike for if HMRC come looking for a benefit in kind payment for a below market value sale. If that happens they will be looking for income tax on 18 or 25% of the original value under the simplified scheme unless you can prove that what you paid was in fact fair market value or above - and generally a nominal fee will not be accepted as the true fair market value.
HMRC Link
wheres_my_beard
Über Member
- Location
- Norwich
I'm still curious to know how badly damaged this bike is.
Vorsprung, by your logic, do you think that if I hired a car, and wrapped it round a lamp post, I could just post the keys back to the hire company, and say "this is your problem"? Sure this may work if something fails on the bike that shouldn't or fair wear and tear, but not for damage caused by the scheme user whilst riding it, accidental or otherwise, especially if the bike can no longer be used as it was intended, i.e. for cycling to work.
Vorsprung, by your logic, do you think that if I hired a car, and wrapped it round a lamp post, I could just post the keys back to the hire company, and say "this is your problem"? Sure this may work if something fails on the bike that shouldn't or fair wear and tear, but not for damage caused by the scheme user whilst riding it, accidental or otherwise, especially if the bike can no longer be used as it was intended, i.e. for cycling to work.
Fiona N
Veteran
Well yes - that's what you buy insurance for. I had a head-on collision in Norway, ended up in hospital, luckily only dinted. Police informed the hire company who turned up in hospital to let me know the car was a write-off and did I need another one? The police had a report of the accident which was entirely my fault and that was all the hire car company wanted.
abo
Well-Known Member
- Location
- Stockton on Tees
Slightly incorrect; you pay the *tax* on the estimated resale value of the bike when you reach the end of the 'hire' period.
Your first mistake was thinking that you bought the bike. You didn't, your employer bought it, you just rent it from them.
The second mistake was not insuring it.
If your employers let you buy it, be grateful. If you don't pay the full amount required in the HMRC document linked above, you will have a tax liability too.
