Is there any schemes designed for small companies who do all the admin side for you? The company I work for are saying no cos of the amount of admin required to run the scheme. 🙁 I want a nice shiney road or cx bike now for getting to work now I’ve paid off the one from the last company.

clickyYep, Cycle Scheme would do it.

My C2W bike came direct from Planet X – I ordered it on the company credit card 😀

There’s bugger all work in “adminstering” the scheme, speak to Harry_the_spider, he’s doing it for his works

1) Read this for the rules http://www.dft.gov.uk/pgr/sustainable/cycling/cycletoworkguidance/

and this to calculate the costs http://www.cyclescheme.co.uk/calculator

2) Get your accounts, wages and purchasing departments on side. Are you VAT registered?

3) Sort out your own paperwork.

You will need

a) A set of rules.
b) A purchasing specification so that you as scheme administrator (congratulations) can sign off and your purchasing people can order against.
c) Salary sacrifice / hire agreement form.

All of this can be stolen off the internet.

4) Consumer credit license – Downloaded it for free.

5) Speak to your LBS about a deal. If you are using your own scheme rather than a 3rd party one (which will charge them) there will be a saving which they could pass on to you.

Once you get your head round the paperwork it is easy.

Your guys basically go out and pick what they want. Your company buys it and hires it back to them. At the end of the hire period the bike will have a value of either 18% or 25% of what you paid for it. Should the company wish to sell it (thay have to say this to differentiate between a hire agreement and a hire purchase agreement, but why wouldn’t they?) this is what you have to pay.

Doddle. 😀

Also… look at deals on 2010 bikes.