Cycle to Work Scheme

space2ground1

Hi all, has anyone used the cycle to work scheme where the department has deducted the cost from salary?

I'm checking it out and there's a line in the dept guidance that says salary deductions must be completed by the last payroll in November of the calendar year in which they commence.

I'm interpreting that as the scheme being most worthwhile if I bought the bike in January. (That rule would suggest you can't buy one in November/Devember). If I bought one now, I'd have to pay it off in just 2 months.

Any info is appreciated!

seavill

Yea that's what happened me except I didn't know about the November deadline. Got some shock when my payslip arrived after buying it in October

space2ground1

Ouch.. I guess the best way then is to wait til January and spread it over 10 months.

gaiscioch

Just use the feckin' thing when you buy it. It's hilarious the number of people I know who "took advantage" of the Scheme, only for their nice shiny new bikes to be sitting in the garage unused a year or two later. Sure wouldn't it be a shame to dirty it!

space2ground1

Ha! It'll be a replacement for a very well used old faithful