Hi I am looking into the trek madone 5.2 project 1. I have specked up the bike and it is coming in at a whopping £3500 .
I have found out that I can get cycle to work however it won't pay for this bike i can get a limit of £1000 for a single bike not part of a bike.
I have been told about a credit license agreement which i then as i have my own business will allow me to increase the threshold to what i wish the loan amount to be???? Only prob with this is that sole trader agreement is £300. ltd company is £800. So may not be a way around the situation.
The other way around it is that the business could buy the bike and then it would get written off after a certain amount of time due to depreciation?????
Does any body have any experience of this? If so could you give me some help as I am banging my head trying to save some money.
Cheers happy peddling stuart........
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 Your not buying it to commute on are you! so pay the legal taxes.
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yeah I am.having cycled to work for the last 3 years i was hoping to benefit like every body else.
PLEASE ONLY SENSIBLE HELP ,CHEERS.
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 Pay the taxes you fraudster.
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 Look what happened to the bankers and their creative accountancy. Best to buy a cheaper bike, from HALFORDS.
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 Hmmm, you don't really need a £3.5k bike to hack to work on, do you eh? ;-)
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 The other way around it is that the business could buy the bike and then it would get written off after a certain amount of time due to depreciation?????
That would be capitalising it as a business (fixed, capital) asset and depreciating it over a fixed, and predetermined, term.
Unless your business requires you to use a bike to generate onward product I would say your accountant will laugh his cock off at you and your tax man will chop your cock off for you. In summary, I dont think your idea will fly.
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Even when I had a bike business I paid my own company cost price plus VAT for the ones I used myself. It didn't really cost me anything because I sold them on privately at the end of the year for the same sum and it kept my accountant happy.
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 You can get the £1000 on cycle to work, and pay the other £2500. No problems doing that with Cyclescheme. Or you could not get a Project One model, save a chunk of cash or buy a better bike for the same money.
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 Get out and ride more often instead of wasting a Trek Madone on just 'riding to work'.
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 Stuart Holmes wrote (see) . PLEASE ONLY SENSIBLE HELP ,CHEERS.
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The legislation change means that the business (ltd) can buy it (bike) and write it off over 1 year. You (or any other employee/director) can use it. If you sell it at any time just put the money back into the business. If you a VAT registered you can claim it back, unless on the FRS. You don't need to get involved in any credit agreement nor cycle-to-work scheme.
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 The bike only has to be used 50% for work purposes on the bike to work scheme remember. So legally a 10k each way commute would leave space for a 100k road race at the weekend 
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and since there is no need to record mileage anyway...
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 Typical. Bloody "small business man" fiddling tax. You want us to help?!
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