Cycling

Aztecs27

Aztecs27

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May 26, 2010
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Any cycle enthusiasts about (except Steve, who's all but given up golf for lycra)?

Just on the verge of taking my first foray into road cycling, but paying for my wedding/honeymoon is holding me back slightly as I don't currently have the funds for my first bike :(

Hopped out on Saturday for a 17 mile jaunt on a mate's bike, which was too small, but thoroughly enjoyed it and can't wait to have my own bike so I can pop out for an hour or so after work to blow away the cobwebs.

Going to attempt to follow the TdF this year, but it's all VERY confusing.

If anyone has a "spare" road bike they can donate for a few months (I'll even get it serviced for you!), please let me know. I'm desperate to get out!
 
Aztecs27 said:
Just on the verge of taking my first foray into road cycling, but paying for my wedding/honeymoon is holding me back slightly as I don't currently have the funds for my first bike :(
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Encourage your employers to sign up for a 'cycle 2 work' scheme... That's how my two lads afforded their recent[ish] road bike purchases... Both did an event in the Reading area [along with 400 others] last Sunday... They did the 60 mile ride... Could have done a shorter or a longer option... One of them did a London to Paris ride earlier in the year for charity...
 
I've got into it in the last year via the cycle to work scheme. I've got a Giant road bike, nothing flash but a very good entry level bike around the £550 mark. Did my first event a few weeks ago (London to Brighton 54m) for the British Heart Foundation and looking to try a couple of others before the season ends. I'm really fortunate living on the edge of the New Forest, some fantastic routes near me.

It's like golf though, now looking at upgrading my bike to something in the £1500-2000 mark which is way beyond my capabilities. Bit like a 28hcp lusting after forged blades :confused:
 
Cycle2Work is pointless for me and I don't think my employer would be up for it as I live less than 10 minutes walk and getting the bike out of the bike store at our flats every morning would be utterly pointless!
 
Aztecs27 said:
Cycle2Work is pointless for me and I don't think my employer would be up for it as I live less than 10 minutes walk and getting the bike out of the bike store at our flats every morning would be utterly pointless!
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Younger lad is in a similar position... Lives less than three miles from workplace [about 15mins when he jogged] but the route he cycles is about 17miles! Doesn't use his shiney new bike for this ride but his old school bike [Claude Butler] which is around 20 years old... Remember buying it for him for his 13th birthday...
 
MegaSteve said:
Younger lad is in a similar position... Lives less than three miles from workplace [about 15mins when he jogged] but the route he cycles is about 17miles! Doesn't use his shiney new bike for this ride but his old school bike [Claude Butler] which is around 20 years old... Remember buying it for him for his 13th birthday...
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See I could do that, but it would mean waking up early AND being sweaty when I get to work! Not a good combination :D
 
MegaSteve said:
Wait 'til you've got kids... Being awake early is no longer a 'problem' :D...

Both lads are lucky in that they have decent shower rooms available at their workplaces...
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Yea, I think if we had that facility I'd be more inclined to get up and cycle/run in the morning. Absolutely itching to get a bike though! Missing out on so many miles with this recent spell of good weather!
 
Aztecs27 said:
Cycle2Work is pointless for me and I don't think my employer would be up for it as I live less than 10 minutes walk and getting the bike out of the bike store at our flats every morning would be utterly pointless!
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There is nothing in the rules that says you have to use it for work (at least, nothing enforceable). I live over 30 miles away but I still got one :)
 
Aztecs27 said:
Hmm..Might speak to the boss then. How does it work? My company "purchases" it then deducts it from my pay?
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Cycle2Work has got very little to do with your company - other than they have to be sign up to the scheme. This is because your company has to take a monthly payment from your top line - that's the point - it's pre-tax and NI - that's how you save. I bought my Boardman Hybrid Comp through the scheme (love it). You are supposed to use it to commute to work in some way but really I have no idea how that is supposed to work - I certainly don't see any way anyone can check - and it would be the taxman not your employer in anycase. As I said - it's HMRC (i.e. the rest of us) who are helping you but a bike - not your employer. He's just the man-in-the-middle.

If I recall - you get Halfords (main C2W supplier) to provide you with the Cycle2Work form. They fill up their bit. You can it processed by your company. You take form back to Halfords - you walk away with bike. Halfords and your company sort out payment with HMRC - basically cost of the bike (say £480) is split over 12 months and your employer takes £40 off your top line a month for 12 months. Sp let's say deductions are 25% (tax plus NI). 25% of £40 is £30 so paying £480 off bottom line it'd take you 16 months to pay for the bike. Off top line it only takes 12months. So you save 4months of bottom line pay = £120. Your £480 bike would actually cost you £360.

Standard procedure but your employer has to be signed-up to the scheme.
 
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SwingsitlikeHogan said:
Cycle2Work has got very little to do with your company - other than they have to be sign up to the scheme. This is because your company has to take a monthly payment from your top line - that's the point - it's pre-tax and NI - that's how you save. I bought my Boardman Hybrid Comp through the scheme (love it). You are supposed to use it to commute to work in some way but really I have no idea how that is supposed to work - I certainly don't see any way anyone can check - and it would be the taxman not your employer in anycase. As I said - it's HMRC (i.e. the rest of us) who are helping you but a bike - not your employer. He's just the man-in-the-middle.

If I recall - you get Halfords (main C2W supplier) to provide you with the Cycle2Work form. They fill up their bit. You can it processed by your company. You take form back to Halfords - you walk away with bike. Halfords and your company sort out payment with HMRC - basically cost of the bike (say £480) is split over 12 months and your employer takes £40 off your top line a month for 12 months. Sp let's say deductions are 25% (tax plus NI). 25% of £40 is £30 so paying £480 off bottom line it'd take you 16 months to pay for the bike. Off top line it only takes 12months. So you save 4months of bottom line pay = £120. Your £480 bike would actually cost you £360.

Standard procedure but your employer has to be signed-up to the scheme.
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Yea, I figured it would be something like that. Might see what she says, but I know a couple of guys have recently bought bikes (not for work commuting, just in general), so it might not go down well they signed up to the scheme now!
 
Aztecs27 said:
Yea, I figured it would be something like that. Might see what she says, but I know a couple of guys have recently bought bikes (not for work commuting, just in general), so it might not go down well they signed up to the scheme now!
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Honestly - it really has very little or anything to do with iyour employer. If they have signed dup to the scheme and you want to take advantage of it then they cannot question you - it's got absolutely nothing to do with your employer how far you actually cycle to work and how often. You live 10mins walk away - so what? Who's to say that you don't choose to go a long way round so that it takes you 20mins to cycle to work - because you want to do it to get fit and for the enjoyment. What is your employer going to do. Check each day that you've cycled in? Doesn't work like that. Just go for it.

And don't feel you might be diddling your employer in some way. If they are in the scheme it won't cost them a penny and they are not responsible for your cycling to work or not.
 
SwingsitlikeHogan said:
Honestly - it really has very little or anything to do with iyour employer. If they have signed dup to the scheme and you want to take advantage of it then they cannot question you - it's got absolutely nothing to do with your employer how far you actually cycle to work and how often. You live 10mins walk away - so what? Who's to say that you don't choose to go a long way round so that it takes you 20mins to cycle to work - because you want to do it to get fit and for the enjoyment. What is your employer going to do. Check each day that you've cycled in? Doesn't work like that. Just go for it.

And don't feel you might be diddling your employer in some way. If they are in the scheme it won't cost them a penny and they are not responsible for your cycling to work or not.
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Oh I'm not worried about my employer to be honest, she'd probably be happy to register. Just thinking I may be pretty hated in the office (we're only a small 16 employee company) as they've just paid full whack for their bikes and I now may get one tax free through the C2W scheme if I persuade our boss to get involved!
 
I cycle most days but am a bit far weather so a lot is done on my turbo! Try to average 100m a week each year and also do a century on the roads but the latter didn't happen last year. Have a beautiful Bianchi called Bella.

If you know the approx frame size you need then you could pick up a real bargain on Ebay.
 
Aztecs27 said:
Oh I'm not worried about my employer to be honest, she'd probably be happy to register. Just thinking I may be pretty hated in the office (we're only a small 16 employee company) as they've just paid full whack for their bikes and I now may get one tax free through the C2W scheme if I persuade our boss to get involved!
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Well they can all sell their bikes and buy one through the scheme - they should congratulate you for your initiative.
 
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Just one thing when I looked into it last year. The company you work for own the bike for the duration and they have to agree to sell you it at the end of the contract. My boss at the time is a complete shark and I wouldn't have trusted him not to have the bike back and flog it on ebay. My understanding is that you are only renting it till it goes in your name at the end of the contract. I would have loved to have got one but really didn't trust the owner of the company.
 
Lincoln Quaker said:
Just one thing when I looked into it last year. The company you work for own the bike for the duration and they have to agree to sell you it at the end of the contract. My boss at the time is a complete shark and I wouldn't have trusted him not to have the bike back and flog it on ebay. My understanding is that you are only renting it till it goes in your name at the end of the contract. I would have loved to have got one but really didn't trust the owner of the company.
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Yes - there is the 'final value' aspect of the purchase. Though my company doesn't seem interested in getting anything from me for it and I've had it for nearly three years.
 
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