cycle to work schemes - stil worth it?

The cycle to work tax break scheme is still going (as I understand it from afar), but I see there have been some changes in recent years to make it less attractive. Is it still worth it, for someone looking to get a new, and not to expensive (< 1000 pounds) bike? Some websites claim savings of about 40%, which would make it competitive with buying a vgc used bike, but perhaps that's wrong.

Obviously, being resident in Portugal means I wouldn't be able to participate directly, but a relative may be willing to participate on my behalf.

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One of my colleagues recently bought a Norco mtb from Evans ( wrong on both counts ! ), saving around 25% according to him. His first bike for years, so it's excuseble.
Me? I have enough bikes, no space, and new bikes really don't do it for me.
Each to their own though.
So, about that Muddy Fox!

Mike

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Why would a relative want to pay for a bike you cannot use to commuute to work (one of the clamp downs) and then have his sallary reduced each month, his pension reduced as the pre tax amount is now less (from memory this will happen with any sacrifice scheme not just bike to work) and them remember to buy the bike for whatever it is you have to buy it for at the end of the year.

I honestly don't think it is worth it in the long run compared to what you might be able to get not on the scheme.

Thanks for the info. 20 per cent isn't so much really, and the scheme sounds like a fair bit of hassle. it'd be just as well to wait for the end of season sales, I suppose.

I didn't know about the clampdowns - an in law got one a few years ago using his wife' c2w scheme.

The Fox is still on ice for the moment. I got it out of the garage last week to take a few photos, but I'm still not sure how to build it up yet. I think, like many othet retrobikers, I went overboard buying frames and parts when I first had my retro awakening. I'm quite happy to have it in the build queue, but if you really wanted to take it back we can arrange something.

I just bought a Jamis Xenith Comp from Evans on the bike to work scheme. Reduced from £1600 to £999, then I got a £50 voucher with it, so was able to get some reduced M780 XT pedals included, thus meaning I don't need to buy new shoes. I'll pay back about £660 once you take into account the tax saving. I'm still paying my pension at the rate I planned, and my firm is contributing to that as expected. I'm also sacrificing salary for child care vouchers. I can't complain at getting a full carbon bike with 105 gearing, when I cycle to work daily anyway.

It was really easy, and very little hassle to do as well.

I understand it's a token payment at the end of 12 months, so if it's another month's payment, it's only another £55 after taking tax into consideration

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I think the Token payment is now a fixed range depending on length of sacrifice and original cost.

It think that's on of the new guidelines.

I also belive the bike has to be fit for being a commuter nkw.

Check up though, my info was based on a cycling magazine at the dentist and probably something like moneysaveing man bloke on TV type website.

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What about this, goes to my LBS and has a look at a full rig out, shoes, helmet, WP jacket etc etc. And I clocked that a lot of the stuff was on special offer (£100 reduced to £80 kinda thing) enquires about it and was told I wouldn't get the reduction as I was paying through CTW scheme, WTF :evil:

that was the rules on the scheme I'm on, but still managed it

The new rules are strange. Presumably, the more inappropriate the bike for commuting, the greater the health benefit... A fully sussed MTB with fat tires, surely, would be fine to ride on the roads, particularly if pot-holed, and would burn more calories than, say, a superlight, superstiff plastic road bike.

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RobMac":1rs3ilpv said:

What about this, goes to my LBS and has a look at a full rig out, shoes, helmet, WP jacket etc etc. And I clocked that a lot of the stuff was on special offer (£100 reduced to £80 kinda thing) enquires about it and was told I wouldn't get the reduction as I was paying through CTW scheme, WTF :evil:

Click to expand...

I can understand them not giving a discount on a marked price if your CTW, but they can't put the price up!

You need a new LBS.