Reply to post: Re: Cycle scheme generally is poor value

Sophos was gearing up for a private life – then someone remembered the bike scheme

Anonymous Coward
Anonymous Coward

Re: Cycle scheme generally is poor value

Also, from what happened at my last employment a number of years back. When the end of the term came, the bike had to be handed back, or a negotiation to but it, or the bike could be given to you but the value of the bike was subject to tax via BIK.

Unless the company was prepared to (what technically would be fraudulent) reduce the value of the bike down to a nominal value then the cost of the final tax payment could wipe out the advantages and then some, for a decent bike with good residuals.

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