Update to this...
Having emailed Merlin to vent my frustration, they have confirmed bikes bought via Halfords will also got the 10% discount. So i'll still get it for Â£975
deore 2 wrote:
isnt there some sort of tax break associated with this scheme too?im still a bit grey on the whole thing.do you actually end up owning the bike?a mates just bought himself a bike,which his company paid for,but he pays them back a nominal fee each month out of his wages.
Yup, you pay for the bike monthly by 'salary sacrifice' which means it comes out of gross pay. Therefore i don't pay Tax or NI on the money used to buy it. This equates to a pretty healthy discount
Technically the company is buying the bike and you are leasing it from them for the monthly repayment fee. After 12 months the company gives you option to buy the bike for a nominal fee (typically 5% of it's purchase price), or you give it back. I'm not sure you can actually
give it back so you have to pay the purchase option fee.