Government department rejects Cycle to Work Scheme..

[Martin@e-bikeshop]

A UK government department that employs around 100,000 people around the country has rejected calls to implement a bike to work scheme that could save its employees money and cash on its own wage bill.

Full article on Bike Radar here - http://www.bikeradar.com/commuting/news/article/government-department-employing-tens-of-thousands-rejects-cycle-to-work-scheme-39496/

I personally think its totally ridiculous!

Regards
Martin

 

[Mrke]

It appears they are offered a £1000 interest free loan instead of the scheme.

 

[Clockwise]

My employer just wasted my time with "we will get to it soon" for months before I got fed up with asking them even after doing all the paperwork and putting it infront of them to make it as easy as possible. All that I think of it now is that whenever they bug me about helmets and high vis I make a 3rd person "maybe if his employer had saved him money then he would have some left for that" and they sod off.

 

[Sheffmax]

It would appear Norman Tebbit's "Get on your bike" message didn't get through to the DWP or MoD.

 

[filsgreen]

I would prefer the £1000 interest free scheme that they are offering their workforce, this gives you far greater buying power where you could take advantage of 50 cycles recent 15 % discount.

 

[Emo Rider]

It appears they are offered a £1000 interest free loan instead of the scheme.

So does Freego at the present. This is no incentive on the part of the employer.

 

[Clockwise]

I would prefer the £1000 interest free scheme that they are offering their workforce, this gives you far greater buying power where you could take advantage of 50 cycles recent 15 % discount.

You do know the cycle sheme thing is supposed to be interest+tax free deductions from wages over a period of time? You end up with like 35% off once you total up everything if I remember right.

 

[Wisper Bikes]

Hi Clockwork, if you buy through the CTW scheme, I understand VAT is deductible, the payments you make are deducted before tax so if you are paying the higher rate of tax, the discount is over the 50% mark. And the employer does not pay NI at 12.8%! And yes anyone can buy a Wisper or FreeGo bike and some others for 25% down and 24 equal payments at 0% interest applicable up to the total value of the bike.

All the best

David