At ClearSky Contractor Accounting we're with you all the way. Please keep a copy of your receipt for expense purposes. According to their spokesperson, the government is being inconsistent. DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. But that has to be offset against the travel expenses they could claim of, say €5.70 a day for a 30 kilometre round trip. The company focuses on all global e-mobility trends of the future: be it as an individual e-bike, e-scooter or for public bike sharing schemes. for every £1,000 spent the employer can recoup up to £1,138) - calculate employer savings here . This enables your company, the employer, to buy a bike and bike safety equipment and loan it to you, the employee, for qualifying journeys to work.

The Bike to Work Scheme allows an employer to buy a new bicycle and bicycle safety equipment up to a value of €1,000 for employees. Any information you supply is protected. If however the employee was using the bicycle for work related business and due to negligence caused an accident and injury to a third party the employer would in all probability be liable. There are a couple of conditions to be met in order to qualify for The Cycle to Work scheme: There is no taxable benefit in kind arising from the use of the bike and there doesn’t need to be a reduction in salary to offset the cost of the bike. Employees use the equipment mainly for qualifying journeys, at least 50% business use; i.e. For example, does it offer value for money? Changing accountants is considered difficult, but is it really that tricky? That boils down to around €5 a month.

Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments. From 2015 the separate schemes allowing tax reductions for different purposes - the National Bike Scheme was just one of them - will stop. So in theory, there is still room for the company bike, but it all depends on whether individual companies consider it a priority.

However, they will also lose the right to travel expenses if they accept the offer, the broadcaster said. Under the scheme an employer can pay for a new bicycle (including bicycle accessories) and the employee then repays the cost in regular installments from their gross salary. The head office, development and manufacturing center is based in Suzhou, near Shanghai. As an employer, lending or hiring bikes to employees doesn’t count as an expense or benefit - as long as they’re available to all employees and mainly used for getting to work. In 2013, around 20% of the bikes sold was financed through the scheme. But this would be classed as an asset of the company and usage of this asset could be classed as a benefit in kind if used for substantially more than business purposes. There is no agreement to be drawn up and no need for prior approval by HM Revenue & Customs. The company can also provide any safety equipment for the cyclist i.e. Save money on fuel bills and improve your fitness, all at the same time. From 2015 the separate schemes allowing tax reductions for different purposes - the National Bike Scheme was just one of them - will stop.

Currently people who cycle to work can claim travel expenses of 19 cents a kilometer, but they will lose that right if the bike is provided via their employer. This enables your company, the employer, to buy a bike and bike safety equipment and loan it to you, the employee, for qualifying journeys to work. There are certain requirements to meet to qualify for the scheme: There is a limit of £1,000.00 and anything above that price would need to be met by you. Please leave a message in our guest book. From January workers will be able to use a lease bike provided by their company for a couple of euros a month – the cost of taxing the new perk. The cycle is used mainly for work journeys (mainly in this case being 50% or more for business purposes), If you do not use the cycle mainly for qualifying journeys you may lose the benefit of the tax exemption and you would be liable to pay tax on the benefit. If you have not yet made a contribution, you can do so here. Is the company selling it trusted by others? People also get exercise, which reduces the costs for healthcare.". Photo © Holland-Cycling.com. But it remains to be seen whether the number of commuters by bike will drop as well. Bafang has Sales and Service Centers in the Netherlands, in the USA and in Germany. If you should want to extend the scheme to other employees and to make a charge for loan of the bike, then provided the cost of the bike and equipment is less than £1,000, the scheme will automatically be covered by a group consumer credit license.

If the bike is transferred into your personal ownership at a future date then you are only taxable on the market value of the bike at that date (the normal rule is that you would be taxable on the value of the bike at the time it was first provided to you). If you have not yet made a donation, but would like to, Talking taxation: four issues which you might not have thought about, From Barbie to dinosaurs - here are 14 great things to do in October, The Dutch glasses company that wants to crack the competition, DutchNews podcast – The Great Tit In The Coalmine Edition – Week 39, Spoiled for choice? These are company assets and lent to the individual by the company. We agreed with State Secretary Mansveld [in 2011] that the number of commuters using the bike should increase by 5%, but a few governments later State Secretary Wiebes puts an end to that plan with one stroke of the pen.". ‘Nevertheless, a lot of people still take the car to get to work.’. But does this mean the end of the company bike? As the UK's no.1 independent provider of the Government Cycle to Work scheme, we believe that bikes are good for everybody. All the money that goes towards cycling, it gives huge returns in the form of less traffic congestion and less pollution.

Dutch environmental organisation Milieudefensie doesn't believe the government cutbacks will actually save money. Despite protests, the government has decided to stop the popular scheme to stimulate cycling as of 1 January 2015. Rishi Sunak last week unveiled the Government’s plans to help protect jobs and support businesses over the coming months.

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