Tuesday, 11 June 2019

Cycle to Work scheme limit might be changing for the better

It has been a few years now since I bought a Brompton on the Cycle to Work scheme. The scheme I used - like many of the others - had a £1000 limit for purchases. The government published a snippet of information today that may well allow purchases above this limit for e-bikes.

Published yesterday from the Department of Transport and Cycling Minster Michael Ellis, MP a new scheme was announced that will make it easier for employers to provide cycles and equipment, including e-bikes worth over £1000.

It seems that the steady increase in e-bikes sales (a hit on the Continent for several years before here in the UK) might have been partly responsible. E-bikes are not cheap and the the removal of the former £1000 cap would certainly help to boost sales even further. Of course this would be good news for anyone thinking of buying a Brompton Electric under one of the cycle to work schemes.

What many people have done in the past is to take out the £1000 on a cycle to work scheme and pay the difference on whatever is left over. If you are allowed to go beyond the £1000 it looks as if the tax savings gained from the cycle to work scheme will be increased.

Anything that simplifies the process is a good thing, as is being able to go beyond the £1000. There is no indication of when this comes into effect but I would imagine you'll soon start to see the changes on the various cycle to work scheme websites.

Great time to be buying a new Brompton Electric!

LINK to the Government article

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