unlimited price cycle to work

[ray74]

hi, has anybody on here used proc2w to buy there new bike through the cycle to work scheme?

I'm looking into it and given my boss the details he needs to see if he will allow it through his company but I just wondered if anyone else on here has any experience of this new scheme.

http://www.proc2w.co.uk/Financials.html have a look at this link and see what you think?

this opens a lot of opportunity to get a nice bike through cycle to work.

 

[Leccy]

I thought the government limit was £1k.

 

[ray74]

same here but I have spoken to these guys and they said it still works in the same way but they take different steps so there is no limit to how much you can have to spend on a bike, there is the downside that the company you work for has to pay upfront for the bike and then they take it monthly out of your gross wage.

if you go to the resellers section on there page it looks like there are a few different bike shop's using there system for the cycle to work scheme.

 

[ray74]

http://www.proc2w.co.uk/Resellers1.php#

 

[Electrifying Cycles]

There certainly did not used to be this limit. I used to run a Cycle Scheme.

The reason it is normally 1k is above this you need a consumer credit licence except if you are a government body like a council (If you are a private business you need a consumer credit licence). However your wages cannot be pushed below the minimum wage after deduction of your monthly payment for your bike.

I got this confirmed by HMRC. I am making the assumption this is still possible, it certainly was 5 years ago.

 

[ray74]

I have spoken about that to them as well and they have confirmed that the company do not need a consumer credit licence.
this is why I was wondering if anyone else on here has bought there new bike through this scheme yet as I am very interested in purchasing my next toy

 

[Martin@e-bikeshop]

Hi Ray,

Check out our scheme, similar process - NO LIMIT!!

Plus we are the place to go for Haibike
All under one roof!

Check it out: https://www.e-bikeshop.co.uk/e-bike-to-work

 

[ray74]

thanks martin, can I ask if you have had many people use this scheme through yourself? I am just waiting for the release prices and UK specs for the new sduro range then I can make my decision. I am down to 3, either the new xduro allmtn rc but I need to ride one first to see what the new system feels like or it will be the sduro allmtn rc or rx.

 

[Tubamanandy]

My limit at work (HSBC) is £2K