cycleschemey things - final value?

[Justayellowbadge]

Apologies if this has been done to death, I did a search and couldn't find anything, honest.

My mob are starting the tax free scheme, and it got me looking for a bike. I found a couple that look interesting, but I'm concerned by the 'market value' final payment idea.

The firm are adamant they will have to charge a fair market value at the end of the scheme, and that not to do so has all sorts of awful tax and employer's NI implications.

Everything I've found seems to suggest that in practice 5%-10% is what is paid, but this lot won't have it.

I don't fancy paying £600 over the year for a £1000 bike, (which at that point will have cost the firm nothing other than the lost interest for a year, which will be compensated by reduced ENI payments anyway) only for them to want another £500 odd quid for me to buy 'my' bike off them.

Any pointers?

Edited by Justayellowbadge on Wednesday 17th March 16:47

[Justayellowbadge]

Session said:

I think this final value aspect may be the death knell for the scheme and as a cycle shop owner I hope it will, in my view most people purchasing bikes on the scheme neither need nor deserve a tax break on a bike they are nearly always purley using for leisure and not commuting.

You are morally opposed to the massive increase in people purchasing ~£1000 bikes who otherwise would not have done so?

As a cycle shop owner?

Staggering.

[Justayellowbadge]

Steve, I love you (no homo).