[cite]Posted By: Bournemouth Addick[/cite]BTW earlier on in this thread I cautioned against getting involved with the Cycle2Work scheme thing.
Just to make you aware, my own employer has recently been contacted by HMRC who have stated categorically that if the bike is sold at the end of the hire period then it shall be at the fair market value and not a penny less or it will be seen and taxed as a benefit in kind. In their estimation this will be around 30% of the initial cost of the bike.
It would seem that HMRC have cottoned on to how employers are advertising the scheme (i.e. as a cheap way of buying a bike) and are clamping down hard.
Thats interesting.
I've just finished my first one and starting my second one to get my road bike.
My company uses cyclescheme. After the 12th and final payment (which comes directly out of my salary at source), I got emailed an invoice for £53.99 which was the fee to transfer ownership over to me, which was exactly 5% of the orignal value of the bike. Was quite happy with that. So I guess it really depends what C2W scheme your company uses.
I think it's more to do with HMRC getting around to contacting every employer that they become aware of doing it like that rather than which companies managing it for them as we also use cyclescheme I think. I think it'll be a matter of time.
[cite]Posted By: Bournemouth Addick[/cite]BTW earlier on in this thread I cautioned against getting involved with the Cycle2Work scheme thing.
Just to make you aware, my own employer has recently been contacted by HMRC who have stated categorically that if the bike is sold at the end of thehireperiod then it shall be at the fair market value and not a penny less or it will be seen and taxed as a benefit in kind. In their estimation this will be around 30% of the initial cost of the bike.
It would seem that HMRC have cottoned on to how employers are advertising the scheme (i.e. as a cheap way of buying a bike) and are clamping down hard.
Slightly worrying that as I took up the scheme this year. Can't say I wasn't expecting it, although my work are very vague about collecting anything.
Got a Marin Point Reyes on the scheme. Great all-round bike. I did the London to Brighton trek - on my own, not with the Heart Foundation - but I don't think I could manage the mileage some of you boys put in, or the time come to that. The Brighton trip is fantastic but slightly terrifying too on the small country roads. Some of the drivers do not give a toss about how close they get and one White Van Man threw a bottle at me. It was like the ending of Easy Rider, except that instead of a Harley I was riding a mountain bike, and instead of a shotgun he had a bottle of Fanta.
We do it ..........Ive done it twice..............and paid 5%
I happen to be the CEO but asked the FD to sort out the proper final price. Ie Not screw it for me
Since then quite a few others have done it and all paid 5%
I have found an off road route from the other side of the QE2 bridge to Rush Green Dagenham taking in only 1 mile road ........the rest parks, country park, scrubland, the chase, riverside etc.
I am doing 50 - 60 off road miles per week including 25 mile off road Sunday early slots.........lovin it.......one year off the fags .......and doing three days MTB in the Dales later in September !!
Much prefer off road
. more technical . no cars...or fekkin lories . much more fun at 35mph downhill off a trail..( see swinley forest) . see more nature . keeps you fitter
[cite]Posted By: holyjo[/cite]We do it ..........Ive done it twice..............and paid 5%
I happen to be the CEO but asked the FD to sort out the proper final price. Ie Not screw it for me
Since then quite a few others have done it and all paid 5%
Not saying it hasn't been happening, just that they seem to be enforcing the terms more rigidly now. Must be a fair few quid lost out to the tax man through companies doing what yours has been doing.
Clem, I bought the 2010 Specialized Allez Elite with Tiagra (likely to be the one up from the Specialized you are looking at) and its fab. I wanted a Canondale CAAD9 but couldnt get my hands on one due to supply problems from the US but more than happy. What I would suggest is that try and ride both before you buy. Most shops will allow you a test ride. I've had good experiences with Bromley Bike Company and Tri The Bike Shop in Gravesend. Go with whatever fits you best.
[quote][cite]Posted By: Clem_Snide[/cite]Purchasing my first road bike on Sunday. Cant decide between trek 1.1c or a similar specialized. Any thoughts? Both around 550.[/quote]
If you want to throw another make into the mix take a look at the Giant range, I ride a giant Defy 2 which is a bit out of your price range but they do a nice line of cheaper/entry road bikes.
[cite]Posted By: Clem_Snide[/cite]Purchasing my first road bike on Sunday. Cant decide between trek 1.1c or a similar specialized. Any thoughts? Both around 550.
Actually - if you dont mind the badge (as in it's not for the cool kids) Decathlon do really good bikes.
At that price all the name brand bikes are pretty much the same and are decent enough for a basic bike.
It's down to personal choice as frame sizes/shapes always differ slightly between makes. Best bet is just to test ride them and see what you feel most comfortable on and not worry about specs to much.
[quote][cite]Posted By: Bournemouth Addick[/cite][quote][cite]Posted By: holyjo[/cite]We do it ..........Ive done it twice..............and paid 5%
I happen to be the CEO but asked the FD to sort out the proper final price. Ie Not screw it for me
Since then quite a few others have done it and all paid 5%[/quote]
Not saying it hasn't been happening, just that they seem to be enforcing the terms more rigidly now. Must be a fair few quid lost out to the tax man through companies doing what yours has been doing.[/quote]
The idea behind the changes in the cycle scheme is as mentioned above however, if you work in a small company and/or are friends with the finance guy who deals with the cycle schemes then essentially you can pay very little indeed. The idea is that 'a fair market value' can be based on not only the original cost of the bike, but also any wear and tear beyond the usual that may have occured. It is only guidance from HMRC...
So if, for example, you explained that there was some theoretical 'heavy sctratching' to the frame, the gears needed a full service and 'possibly' replacing and prehaps the forks were 'not operating as they should' (and you accounts guy agreed) then the value could be very little indeed...
The bikes in our company always seem to have these problems... I can assure you that my new Giant Roam XR3 (2011) wont be worth 30% of original when the time comes for me to make the final payment.
Clem - Bromley Bike Co has a sale on - much cheapness...Big Foot Bikes in Hayes has the baseline Trek's too...Giants in the cycle shop at bottom of Vanburgh Hill, sale on there too I think...
Re: the C2W scheme - mine has just ended and I didn't have to pay anything extra at all...they just collected my last payment as normal and sent me a letter confirming it was now mine...
Get that bike and then you can join us on a Sunday...
So.....I settled on a Specialized Allez in the end.
Had it about 10 days and can't believe that I have commuted on anything else. My average speed has sky rocketed.
Love the new steed so much that I am now selling my Marin Larkspur 2010 (19") frame.
Was £440.00 new, has been well looked after. Wanted £180.00 for it but will sell to someone on here for £150.00 if anyone is interested. I am in New Eltham\Avery Hill.
biking is only a dream at the moment due to the ongoing snow, ice & sub zero temperatures - but in a couple of months I will be buying myself a nice, new road bike
Good choice Clem. Did you go for a double, compact or a triple?
I'd keep hold of your Marin, especially if you fancied doing any off road stuff. Although I love my road bike to bits and prefer being a lycra-clad roadie than being a mtb'er in 3/4 length baggies, I'd never sell my MTB as I love doing some off-road stuff too. If you get a chance, locally, the Thames Path from Woolwich all the way up to Greenhithe is a good route to do in the Summer.
[cite]Posted By: JohnBoyUK[/cite]Good choice Clem. Did you go for a double, compact or a triple?
I'd keep hold of your Marin, especially if you fancied doing any off road stuff.
Although I love my road bike to bits and prefer being a lycra-clad roadie than being a mtb'er in 3/4 length baggies, I'd never sell my MTB as I love doing some off-road stuff too. If you get a chance, locally, the Thames Path from Woolwich all the way up to Greenhithe is a good route to do in the Summer.
Got a double. When I looked at the chain ring sizes and compared them to the hyrbrid they were very close. I never used the smallest ring on the crank anyway so decided to save the money and additional maintenance.
I binned the pedals before I left the shop as the originals were hopeless and am going to change the saddle - it is like a razor blade!. Knew it would be an issue from the reviews I had read. If anyone can recommend a saddle that doesn't feel like it is sawing you in half but still looks sporty I would appreciate it.
Only ever used the Marin for commuting so it will have to go....wife's orders!
Well I am going to take up cycling!
Don't laugh, well not too loud anyway.......
We shall see if the saying about once riding a bike .....
So an unfit, nearly 60 year old, that used to cycle 40 odd years ago is going to make a complete 'arse' of himself, and start to cycle again, just for fun and getting about!
Anybody got any advice, as what to buy, something comfortable and sturdy, I do not think I will be going down the fixed wheel, one brake, hand built racing frame guys, more like the 'cheapo' from Halfords!.
( yes I know 'proper cyclists' despise them!)
I am going to center parcs in a couple of weeks time, so will see hire a bike there, (as I have done before).
Is it worth buying second hand! If so where/what......
Any constructive advice!, besides investing in a soft saddle, and a Cardiopulmonary resuscitation kit!... would be appreciated!
Thanks......
Go to your local bike shop and talk to them, tell them your price range, what you want the bike for and ask for test rides. If they're any good they'll let you do that. Don't go to Halfords unless you know exactly what you want and you are prepared to adjust it and put things right after sale yourself.
You probably would be best suited with a hybrid and all the major brands do good ones.
But be beware if the bug bites, you'll spend a lot of money in the months and years ahead on newer better stuff.
Comments
My son asked what's the top speed I've done, I said 'Peddling or going downhill...'
If I'd known how much I'd be enjoying getting back in the saddle though I'd have forked out on a much better bike....
Thats interesting.
I've just finished my first one and starting my second one to get my road bike.
My company uses cyclescheme. After the 12th and final payment (which comes directly out of my salary at source), I got emailed an invoice for £53.99 which was the fee to transfer ownership over to me, which was exactly 5% of the orignal value of the bike. Was quite happy with that. So I guess it really depends what C2W scheme your company uses.
Slightly worrying that as I took up the scheme this year. Can't say I wasn't expecting it, although my work are very vague about collecting anything.
Got a Marin Point Reyes on the scheme. Great all-round bike. I did the London to Brighton trek - on my own, not with the Heart Foundation - but I don't think I could manage the mileage some of you boys put in, or the time come to that. The Brighton trip is fantastic but slightly terrifying too on the small country roads. Some of the drivers do not give a toss about how close they get and one White Van Man threw a bottle at me. It was like the ending of Easy Rider, except that instead of a Harley I was riding a mountain bike, and instead of a shotgun he had a bottle of Fanta.
I happen to be the CEO but asked the FD to sort out the proper final price. Ie Not screw it for me
Since then quite a few others have done it and all paid 5%
I have found an off road route from the other side of the QE2 bridge to Rush Green Dagenham taking in only 1 mile road ........the rest parks, country park, scrubland, the chase, riverside etc.
Beating the man most mornings !!!
Much prefer off road
. more technical
. no cars...or fekkin lories
. much more fun at 35mph downhill off a trail..( see swinley forest)
. see more nature
. keeps you fitter
Not saying it hasn't been happening, just that they seem to be enforcing the terms more rigidly now. Must be a fair few quid lost out to the tax man through companies doing what yours has been doing.
Just dont get to go out on it as much as i would like so am thinking a mountain bike to do some off roading might be better.
If you want to throw another make into the mix take a look at the Giant range, I ride a giant Defy 2 which is a bit out of your price range but they do a nice line of cheaper/entry road bikes.
Actually - if you dont mind the badge (as in it's not for the cool kids) Decathlon do really good bikes.
Bromley Bike Co seemed a little overpriced when I looked in there.
Will try and get a test ride. Ridden a Marin hybrid for 2 years so am expecting quite a big difference.
It's down to personal choice as frame sizes/shapes always differ slightly between makes. Best bet is just to test ride them and see what you feel most comfortable on and not worry about specs to much.
I happen to be the CEO but asked the FD to sort out the proper final price. Ie Not screw it for me
Since then quite a few others have done it and all paid 5%[/quote]
Not saying it hasn't been happening, just that they seem to be enforcing the terms more rigidly now. Must be a fair few quid lost out to the tax man through companies doing what yours has been doing.[/quote]
The idea behind the changes in the cycle scheme is as mentioned above however, if you work in a small company and/or are friends with the finance guy who deals with the cycle schemes then essentially you can pay very little indeed. The idea is that 'a fair market value' can be based on not only the original cost of the bike, but also any wear and tear beyond the usual that may have occured. It is only guidance from HMRC...
So if, for example, you explained that there was some theoretical 'heavy sctratching' to the frame, the gears needed a full service and 'possibly' replacing and prehaps the forks were 'not operating as they should' (and you accounts guy agreed) then the value could be very little indeed...
The bikes in our company always seem to have these problems... I can assure you that my new Giant Roam XR3 (2011) wont be worth 30% of original when the time comes for me to make the final payment.
Re: the C2W scheme - mine has just ended and I didn't have to pay anything extra at all...they just collected my last payment as normal and sent me a letter confirming it was now mine...
Get that bike and then you can join us on a Sunday...
http://tinyurl.com/6ex5epg
Had it about 10 days and can't believe that I have commuted on anything else. My average speed has sky rocketed.
Love the new steed so much that I am now selling my Marin Larkspur 2010 (19") frame.
Was £440.00 new, has been well looked after. Wanted £180.00 for it but will sell to someone on here for £150.00 if anyone is interested. I am in New Eltham\Avery Hill.
Whisper me if you are interested.
I'd keep hold of your Marin, especially if you fancied doing any off road stuff.
Although I love my road bike to bits and prefer being a lycra-clad roadie than being a mtb'er in 3/4 length baggies, I'd never sell my MTB as I love doing some off-road stuff too. If you get a chance, locally, the Thames Path from Woolwich all the way up to Greenhithe is a good route to do in the Summer.
Got a double. When I looked at the chain ring sizes and compared them to the hyrbrid they were very close. I never used the smallest ring on the crank anyway so decided to save the money and additional maintenance.
I binned the pedals before I left the shop as the originals were hopeless and am going to change the saddle - it is like a razor blade!. Knew it would be an issue from the reviews I had read. If anyone can recommend a saddle that doesn't feel like it is sawing you in half but still looks sporty I would appreciate it.
Only ever used the Marin for commuting so it will have to go....wife's orders!
http://www.wiggle.co.uk/selle-san-marco-rolls-black-saddle/
pick up a cheaper one off ebay or lfgss...
http://www.brooksengland.com/en/Shop_ProductPage.aspx?cat=saddles+-+road+&+mtb&prod=B15+Swallow+Chrome
So good you'll take it from bike to bike over the years as they last forever.
Don't laugh, well not too loud anyway.......
We shall see if the saying about once riding a bike .....
So an unfit, nearly 60 year old, that used to cycle 40 odd years ago is going to make a complete 'arse' of himself, and start to cycle again, just for fun and getting about!
Anybody got any advice, as what to buy, something comfortable and sturdy, I do not think I will be going down the fixed wheel, one brake, hand built racing frame guys, more like the 'cheapo' from Halfords!.
( yes I know 'proper cyclists' despise them!)
I am going to center parcs in a couple of weeks time, so will see hire a bike there, (as I have done before).
Is it worth buying second hand! If so where/what......
Any constructive advice!, besides investing in a soft saddle, and a Cardiopulmonary resuscitation kit!... would be appreciated!
Thanks......
You probably would be best suited with a hybrid and all the major brands do good ones.
But be beware if the bug bites, you'll spend a lot of money in the months and years ahead on newer better stuff.
All you will ever need. ;-)
Google the bike for an image. How tall are you?.