The UK C2W scheme is widely abused and should be replaced by a measure which better serves its original purpose.
I wouldn’t disagree. I think the scheme could be fairer – perhaps applied to lower rate and not the upper rate + NI. Though having said that with Reeves not raising tax allowances until 2031 (is it?) looks like a tax once only paid by senior managers etc, may be paid perhaps by the majority of workers by 2031! That is quite a thought.
A sensible cap, perhaps £5K, which if not raised will be eroded by inflation anyway.
Maybe make it exclusively for bicycle purchases, or only allow other items to be purchased with a bicycle. Which is worthwhile remembering, at the moment,even if you aren’t purchasing a bicycle, you can place an order for clothing, spares and accessories and get tax relief + dodge NI on them.
So yes, it is abused. Hey, but whilst it there and if you are an employee, get in there and take advantage – enjoy!
Wish I still had access! It is outrageous, bicycle shops just won’t give me the 50% off I’m used to! They all seem to expect me to pay the full retail price. Shocking