/ Bike purchase v Tax
The 'cycle to work scheme' for the self employed ,if you like.
I don't think so but cannot, at the moment, give you chapter and verse why (useful I know!)
This page: http://www.starfishaccounting.co.uk/2011/08/top-10-tax-deductible-expenses-for-sole-traders.html
says you can claim mileage for bikes at 20p per mile (not commuting though since that ain't business mileage).
Some days .
Not easy trying to balance 4x2"s on your shoulder though
You just need something a bit more practical. I reckon you could get a roof rack for one of these!
If you're a sole trader then I think the answer is definitely not.
I work for a small limited company. I asked if they would be up for it which they were. They then looked into the nuts and bolts of setting it up and decided it was just too much effort.
I invoice clients for 20p p/m when I use my bike to deliver things, and I declare a percentage of the running cost (services, inner tubes, brake blocks etc) as expenses on my self-assessment.
Buying a whole bike as an expense might be a bit much, unless its only used for work, but I don't see why you couldn't declare a percentage - or put it in the section ('capital expense'?) where pricey things like cars and computers go that you use for your work.
It comes down to the accountant being on board and showing the bike purchase as a non taxable/NI purchase. It is certainly worth investigating.
A limited company is a legal entity in it's own right and the OP even if he owned it would be an employee and could participate in a CW scheme. That is the distinction. The post about a company bicycle would be one way round it, but would be vulnerable to a PAYE audit.
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