Custom Build frame on Cycle to Work Scheme?

[Flying Dodo]

Greenback's correct about part buying, although it means the agreement would have to take that aspect into account.

There's no requirement to run the scheme over 12 months - the employer can agree to run it over a longer period of they want to, which obviously reduces the amount per month the employee has to repay on the salary sacrifice. However, the HMRC notes I'd referred to in my previous post, do state that if it's over 18 months or more, then the employee has the right to terminate the agreement early.

Also there's nothing stopping you buying more than 1 bike, providing they total less than £1,000 (if your employer doesn't have its own Consumer Credit Licence) and the intention is that both are used to a large extent for either commuting or on the firm's business. In the notes, HMRC give the example of an employee needing a bike at either end of a train journey between home & work.

 

[fossyant]

And you got all this for £1000 and via the cycle to work scheme?

We (me and LBS) don't know the final price yet..........it will be about £1000, although he's had an additional £100 deposit from me, so we'll see...

Your LBS (non chain type ) will sort something out for you

 

[ttcycle]

Yeah

You can get a custom bike on cyclescheme - Cyclefit in Holborn are registered with them - not got a bike through them mind you- I know that they will do a fitting for £50 if you're buying a bike from them - otherwise it' a hefty £150 or £200 if sport specific - they have a custom bike for under a grand and one for about £2k with higher spec. Worth getting a custom fit I suppose if your sizing etc is not standard.

The cyclescheme I got my bike from was 18months - If your company doesn't want to take out the extra for bikes over £1000 then you could just top up the remaining amount with your own funds- dependent on how much you're wanting to part with- haha every cyclist has their own obsession!

Good luck- let us know how you get on with your bike!