Cycle to work scheme

[Shnozz]

Can I register for this as co. director and paying myself below minimum wage?

From the blurb it appears that you have to be paid via PAYE and above national min wage.

[Countdown]

I don't see the point.

The benefit of Cyclescheme is that you make repayments out of your gross pay (before tax and NI). If you don't pay tax then it would make no difference if you made the repayments from gross pay or net pay.

You could just buy the bike as a company asset and claim capital allowances on it.

[Shnozz]

Countdown said:

I don't see the point.

The benefit of Cyclescheme is that you make repayments out of your gross pay (before tax and NI). If you don't pay tax then it would make no difference if you made the repayments from gross pay or net pay.

You could just buy the bike as a company asset and claim capital allowances on it.

Well that is kind of where I am at. Seems to me better to simply do as you suggest.