I know there are a lot of different schemes now, but I’ve used Evans and Cycle To Work and they both operated the same.
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Only stipulation for contract work is the contract needs to last as long as the salary sacrifice. That info is from 2017 on the MoneySavingExpert site.
When you say you’re on a 12 month contract, is that a rolling 12 months, or do you have a defined end date?
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Defined end date, August to August for this next role.
Poets Q was going to be my follow up, whether I’d then have to buy the bike after 12 months or still be able to put down the lower 7% deposit to continue the lease and own after 4 years.
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I’d say if you get on board in august you have 12 months so you’ll be fine. After that, they deal with you directly so it matters not where or if you work.
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Hmm. I’m normally a bigger procrastinator than @joex, so this is going to be a struggle. Wasn’t even sure between C2W Vs second hand, let alone what bike and from where.
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I bought a bike when the scheme first came out (when you still could get a decent bike for < 1k) the final price was VAT deductible for the company, I then leased for a couple of years at salary sacrifice, which covered what the company paid - VAT, then paid a £1 to buy the bike or something. Ended up with a £900 bike costing <£450 on interest free credit and the company won on saving employer NI payments as well! They tightened up the rules not long after I’d paid mine off!
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I got a hybrid boardman limited edition and still have it. It was a decent bike for £1k
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When the scheme first came in, everyone just saw “£1k bike, tax free” and didn’t actually read the detail. That included employers and employees.
The fact that you didn’t legally “own” the bike after you’d finished paying for it wasn’t widely recognised. It was only when HMRC started clamping down in it that the schemes tightened things up
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Am I right in thinking you have to pay the VAT now as well? obviously that knocked ~£170 before you’d even salary sacrificed
Hard no from my HR. They say a minimum of 13-14 months left on someone’s contract to give time for the 12 months lease. Which I think was probably what I expected, although a shame.
Might still consider going new for the Van Rysel NCR, but back to understanding what’s on marketplaces There’s a few catching my eye on buycycle, not looked there before
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There’s CDNE bike sales if you aren’t on that group
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Not sure where you’re based now @Chriswim , but WeBuyCycle in Derby is good. A BMC caught my eye there … but realised spending £1k (including trade in) just for the same model but with disc brakes is madness 
Thanks, joined and will keep an eye out.
Yeah my Strava is feeling very neglected lately
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