Wednesday 2 September 2009

Thank You Darling!

I'm not much of a Political animal. I have no allegiance to any particular political party and have little time for the petty squabbling and points scoring that goes on at Holyrood and Westminster. As a business owner, I have to have a weather eye on what is happing in government circles particularly as most of my work is within the public sector and just occassionally, something comes out that is actually of tangible benefit to us, the working public. I'm not talking about policy reviews or complex and inpenetrable incentive schemes. Alistair Darling will help you buy a bike! How cool is that.

A number of years ago, the Government introduced the Ride to Work scheme which lets employers purchase a bike on which they claim back the VAT, the balance is then deducted as salary sacrifice from the particular employees monthly pay over a 12 month period meaning that the employee doesn't pay NI or Income Tax on the monthly amount. In real terms, what this means is that we, the bike riding public can save around 45% on the cost of a brand new bike and pay the balance on a 12 month, interest free loan. Good eh!

So being the kind, understanding employer that I am, I registered with Evans Cycles Ride to Work scheme last year and have recently acquired my second bike through their scheme. Isn't she nice?...............
So my training is now interspersed with the occassional bike ride to and from work made all the more pleasurable by knowing that Mr Darling is helping to pay for it!

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