Cycle Scheme - Don't Bother

[Norm]

I think its combination of the scheme and the limit to which the company wants to pay - that P11d method involves my company paying HMRC themselves the 'fair value', I think. I'll defer to your expertise on that

Oooo, there is an alternative that allows the company to pay tax on behalf of their employees (it's called a dispensation) but I've never seen that covering the donation of a C2W scheme bike before. That is as good as it gets!

I understand even more why you think your scheme is so good but I wouldn't go telling too many people about that, it's very unusual and I don't think anyone else will get the same level of benefits from it that you are seeing.

 

[wiggydiggy]

Oooo, there is an alternative that allows the company to pay tax on behalf of their employees (it's called a dispensation) but I've never seen that covering the donation of a C2W scheme bike before. That is as good as it gets!

I understand even more why you think your scheme is so good but I wouldn't go telling too many people about that, it's very unusual and I don't think anyone else will get the same level of benefits from it that you are seeing.

Hehe I checked and the benefit of a job with us (of which C2W can be part of) is spoken of on our 'careers' page so I know I'm not giving anything away. I suspect they have used the 'best' deal available as despite our reputation (hey we are a bank!) we do try to look after employees, mostly lol So your theory of dispensation for this (and some other stuff) being used I think is right.

I do have a slightly skewed view of the scheme in general then because of that, but I do understand now that when 'Cyclescheme' is spoke of it doesn't necessarily mean the scheme in general but the company 'Cyclescheme' who by all accounts here don't have a good rep.