Cyclescheme

Posted on
Page
of 11
Prev
/ 11
Last Next
  • That said the board could well flat out refuse too see an engagement officer :(

  • A good thing to point out is that it is about as much effort to HR as it is for Childcare Vouchers.

    The key issue for most companies is the impact on cash flow - a lot of companies are looking to protect cash flow.

  • Our cashflow is strong- but I would not mention childcare as we have just done that (many more parents than cyclists!) and in the words of the hr manager "it was a nghtmare"

  • i'm thinking of doing this with the company I work for. Could someone send me a link for info on this?

  • Our cashflow is strong- but I would not mention childcare as we have just done that (many more parents than cyclists!) and in the words of the hr manager "it was a nghtmare"

    Seriously, if my HR team can do it, then it should be well within the remit of any other company.

    Perhaps you should point out your HR staff's incompetence? Isn't it part of their jobs to help retain employees? One way of doing that is through BENEFITS like the Cycle Scheme. I hate HR departments that hide behind red tape to justify not doing shit - that's what they're paid for.

    Sorry, rant over.

  • i'm thinking of doing this with the company I work for. Could someone send me a link for info on this?

    www.cyclescheme.co.uk

  • I just talked my employers to consider that scheme^, we were restricted to using Evans' scheme up to now. I don't actually want to buy a new bike, but I think we should have the choice of going to an independent. Maybe I will have to buy a new-school bike at some point.

    I asked them ages ago, they said no, this time I asked another person (the original naysayer has now left) and made my case as politely as I could that Evans don't always sell the best gear or have good customer service (a former collegue of mine bought a Bianchi Pista from a branch of Evans on the scheme, rode it a mile or two and a BB cup fell out). No offence to friends on here who happen to work in EXCELLENT branches of Evans ;)

    Now how to work out a way fro them to pay for jumble purchases ...

  • That new shop 14 seem to be on the cycle scheme they have a sticker in their window.

  • One thing that no one seems to have mentioned with any force is the fact that the company is saving 12.8% National Insurance on the sacrificed amount (which will be net of VAT). If someone goes into it for a £1,000 then you've almost covered the extra admin costs.

    Also, the company isn't obliged to pass the VAT saving on, so you could negotiate on that point. There is a big saving to be had, it's just a case of balancing it between employer and employee.

    Finally, if they aren't going to pass out payrises but can sweeten staff while saving money, it makes sense.

  • The cash flow impact of Cycle to Work schemes is easily mitigated. Most employers give a season ticket loan. If they offer Cycle to Work as an alternative, they would save cashflow as even a 1&2 zone annual ticket exceeds the maximum under Cycle to Work.

  • I just got our firm signed up to this....not hard. Numerous benefits to the company not least of which the depreciation related tax right off when they sell you the bike at the end. Will post up my prep list for the boss tomorrow if I saved it somewhere!

  • (my 2p: the Halfords-run version of the scheme lets you use your voucher at Condor. Not sure if this would swing things at your firm or not!)

  • stats, people! reduced sick days for cyclists, you can be more flexible, attract a wider range of new employees...

  • I think my company are just looking for reasons to say no, personally, anyone have a busines case they have put forward?

    My company - ditto. I even offered to do all the forms, and they still said niet....

  • All plus points are well made and valid.

    However, most financial directors are nervous about the potential fall out from the scheme, if they have to let people go. Unlike child care vouchers, this is a contingent liability, that does not just disappear if the individual leaves employment. The loan, under most schemes, will be repayable in full, and I think this is why many HR departments will point out the negative impact of taking most of a leaving employees final salary payment.

    There is also the "what if" questions if the bike gets stolen from work, or elsewhere, and who is responsible for any resulting loss. There is an argument that as the bike is owned by the company, until it is bought by the employee, they are responsible for any loss that may arise.

  • Hey guys,

    I am building a new Mercian and funding it through the cyclescheme. Now Mercian mentioned last time that the cyclescheme costs them a 10% administration charge so they charge an extra 10% on any bikes they build through the scheme. This seems a little punchy to me? Anyone know how much the actual administration charge is/ whether shops standardly pass it on to the consumer...

    Thanks

    Tom

  • Sounds about right - Condor does the same

  • If you don't use a service provider such as cyclescheme/cycle2work you can just do the paperwork yourself and save the 10%.

    http://www.dft.gov.uk/pgr/sustainable/cy­cling/cycletoworkschemeimplementat5732

    Obviously, your employer would have to agree to this.

  • Shops have to pay 10% to cyclescheme, we tend not sell sale bikes at a discounted rate as we have to pay 10% of the value aswell, meaning we'd make not a lot.

  • From the cyclescheme website.

    A very small selection of Cyclescheme's partner bike shops may wish to add an administration fee to quotes for custom bikes.
    This is because the profit margins on custom bikes, built in the UK, are lower than those available on standard, mass-produced bikes. The shop also has much more administration when building a custom bike as parts have to be ordered in advance and in-house builds coordinated amongst other daily work.
    The administration fee is typically no more than 10 to 12% and is ONLY applicable to custom bikes.

  • Cool - thanks for the tips and the pointer to the cyclescheme website!

    I am tied into the cyclescheme through my firm so have no choice there. Looks like I will just have to front up the extra 100 quid.

  • I was enquiring about the new planet X track build due out soon and go this reply

    'Should be available late May/early June. Not sure of complete bike price yet £1k ish
    We'll be set up to use cyclescheme again in the next week or so, so will be able to process your order for you.'

    That is my new bike sorted if the spec is good..

  • Hi
    I think you need to be a member of that sub-forum before you can post in it. Not sure though. RPM is the moderator so maybe he knows

  • I work for a small company with no HR department and there is no chance of getting them to sign up for this, litterally no chance at all (they don't even do those childcare vouchers apparently).

    The company my Mrs works for are possibly going to sign up - if they can be talked around. Their argument is that if someone got injured whilst on the bike the company could be liable blah blah cooporate bollocks blah.

    Anyway, my question is, if her company do sign up, is there anything stopping her signing up to the scheme and getting a bike for me? She mentioned this, totally unprompted last night, which has got me a bit excited. am i getting my hopes up, or could this actually work?

  • The cost of the scheme is borne by the bike shops. When you redeem a voucher worth £1000, the bike shop only receives £900 in payment.

    That's why you can't always take advantage of sale prices.

    I can't praise Cyclescheme enough. I've bought my last two bikes on it and have a third on the way.

  • Post a reply
    • Bold
    • Italics
    • Link
    • Image
    • List
    • Quote
    • code
    • Preview
About

Cyclescheme

Posted by Avatar for tom. @tom.

Actions