Not such a good deal

It turns out that CycleScheme isn’t such a good deal for us, apparently we still have to pay VAT on the purchase price which wipes out a fairly hefty chunk of the possible savings. The only real advantage left over careful shopping is that you effectively get a 12 month interest free loan, which isn’t really enough of a benefit to go through the hassle of all the paperwork along with not actually owning the bicycle.

This entry was posted in Bikes. Bookmark the permalink.

3 Responses to Not such a good deal

  1. matt says:

    I believe the company can claim the VAT back on the purchase and pass that saving on to you.. or at least that’s how BOOOOOOOOOOST sell it to you.. and less tax paid as you have your payments removed pretax.

  2. rjw says:

    Apparently in our case they can’t claim the VAT back, so all you save is your tax/NI contributions. With a bit of careful shopping, you can probably save that much yourself anyway.

  3. matt says:

    I expect it’s because you’re a large organisation and it’s a pain in the arse… I’d guess I could do it though work, but then again, there’s absolutely no point… i’d probably end up paying more! (and it would probably take a million more years to get stuff ordered!)