Hi Chris,

We typically keep external links away from the forum but the scheme you are talking about is quite interesting:

http://www.bike2workscheme.co.uk/index.php

When I look at the website I think it's suggesting that it might be the employer purchasing the bike and then payroll deducting the employees contributions towards it?

Would this scheme enable you to save money versus other transport options which you use today?

Hi TDA,
Yes the employer does purchase the bike and my payroll is deducted monthly for 12 months, then you have a chance to purchase the bike after that. It's only up to the value of ?ú1,000 then there is an approx saving of 50%.
It is instead of taking the car for a "greener future"

I'm really not sure that this type of salary sacrifice scheme could be described as credit Chris. The experts may have a view to add to this though.

If you went ahead would it have an effect on your ability to make your Trust Deed payment?

The effect on my salary is really small, even to lease a bike at ?ú1,000 it would be approx ?ú49.00 per month and to be honest I would not go for one that expensive. This would not affect my payments to my trust deed I could still afford to pay my contributions.

Hi Chris

In principle I don't think taking out a bike on this scheme would be an issue as I'm pretty sure that TDA's interpretation is correct, however it would depend on whether the deductions from your wage would affect your contribution in anyway.

Julie

T