cycle 2 work scheme

[gekko]

I spoke to Pearson about the extra voucher but they wouldn't take it as there's nothing in it for them. It's a gift rather than being part of the scheme as such as you don't pay it back. This means that an LBS can't claim back the money for that part. I agree with what you say about being able to source stuff cheaper elsewhere but it's a free voucher so it's still £50 (or £75 in your case) that you wouldn't otherwise have.

 

[g00se]

No, you cannot add your own money to the voucher for tax reasons. It's best to choose your bike prior to applying for the voucher so you know exactly how much you'll need.

Accoring to my employe's intranet FAQ about it, in the current cyclescheme.co.uk scheme, the voucher value is fixed, but you can pay more out of your own pocket. Though there is no tax saving on this. So if you have a £500 voucher for a £500 Specialized Thing, you can change your mind and get a £575 Kona Wotsit by just dipping into your pocket for £75. Provided the LBS are happy to supply a different bike.

 

[the enemy]

Accoring to my employe's intranet FAQ about it, in the current cyclescheme.co.uk scheme, the voucher value is fixed, but you can pay more out of your own pocket. Though there is no tax saving on this. So if you have a £500 voucher for a £500 Specialized Thing, you can change your mind and get a £575 Kona Wotsit by just dipping into your pocket for £75. Provided the LBS are happy to supply a different bike.

Thanks Goose.

 

[HLaB]

Accoring to my employe's intranet FAQ about it, in the current cyclescheme.co.uk scheme, the voucher value is fixed, but you can pay more out of your own pocket. Though there is no tax saving on this. So if you have a £500 voucher for a £500 Specialized Thing, you can change your mind and get a £575 Kona Wotsit by just dipping into your pocket for £75. Provided the LBS are happy to supply a different bike.

That's my recent experience of the cycle scheme which lbs is going to turn down an extra few quid The cycle to work scheme through Hellfrauds may me more restrictive but I've no experience of that.

 

[addictfreak]

The bike I bought was 1500, I just paid the 500 up front to the LBS. Still saving me around 300 with easy montly payments taken at source.

However not all LBS are willing to do this, even the one I used asked me not to let the cat of the bag.

 

[nigelnorris]

Evans is another one that will allow you to add cash to the voucher to buy a dearer bike.