Carrera Sparc - a few more questions

[Rad]

I got my letter of collection from Halfords today and it quite clearly states that under no circumstances can any monies be added to the value of the LOC. Maybe that's just Halfords, but the impression I got was that it was for tax reasons.

 

[Mussels]

I got my letter of collection from Halfords today and it quite clearly states that under no circumstances can any monies be added to the value of the LOC. Maybe that's just Halfords, but the impression I got was that it was for tax reasons.

When I read through the Cycle to work scheme stuff a few months ago I got the impression that there was no £1000 limit but companies lending more than that should register for the consumer credit act (or whatever the correct lingo is), safety equipment can be included in the loan - clothes, locks & lights etc. Halfords may not want to play as the bike would then be under shared ownership as the company own the bike until the loan is paid off, and it may cause warranty headaches.

 

[tillson]

Rad, is Cycle to Work Scheme, different to Cycle Scheme? I think these are companies that administer the finances on behalf of employers and take a commision for doing so.

It maybe that Cycle to Work don't allow top ups where as Cycle Scheme do. Or I could just be talking rhubarb.

 

[Rad]

Mussels, when applying online for the cycle2work scheme there's a definite £1,000 limit.

Tillson, good point, I hadn't thought about the fact that cycle scheme and cycle2work are different administrators. It seems the Halfords adminstrated one is much more rigidly applied than cyclescheme Unfortunately for me, it appears that the person in my company tasked with organising the cycling scheme has gone for the easiest option, one where they sign a document and leave all the work to the administrative company.

 

[Mattyduk]

Mussels, when applying online for the cycle2work scheme there's a definite £1,000 limit.

Tillson, good point, I hadn't thought about the fact that cycle scheme and cycle2work are different administrators. It seems the Halfords adminstrated one is much more rigidly applied than cyclescheme Unfortunately for me, it appears that the person in my company tasked with organising the cycling scheme has gone for the easiest option, one where they sign a document and leave all the work to the administrative company.

Yes, you can either go with a company who administers the cycle to work initiative such as Halfords/Cyclescheme, or you can get your company to do the work, in my case my managing director who operates the payroll. This means that there isn't a £1,000 limit in terms of the total value of the bike, as the company will pay the £1000 and I'll pay the remainder.

Well, I think that's how it works and have been assured by 50cycles that this is the case. I just hope my MD thinks it's a good idea, and seeing as they are looking into "offsetting carbon footprint" (I'm sure I've seen a documentary that said this was a load of b****ks!), I'm in with a good chance

 

[Mussels]

I was reading the government guidelines and not those of a company with a confusingly similar sounding name, obviously the companies 1st interest will be maximising profit rather than giving the most help.
I was trying to get my HR to do something helpful for once but failed.

 

[Mattyduk]

Well I'm hoping my HR dept (read Managing director) is able to do the biz. He's pretty busy at the moment as we're approaching our year end, it's near pay day, the chief accountant leaves in 13 days and we're restructuring the company !!!

but apart from that, I'm sure he's got time to sort out my e-bike

I've asked 50cycles for how much they want me to put down as a deposit.