Cyclescheme instrumental in securing concession from HMRC

Cyclescheme instrumental in securing concession from HMRC

Working independently and with The Cycle To Work Alliance coupled with our scale, deep knowledge of the scheme and wider salary sacrifice arrangements, Cyclescheme were able to construct a coherent case to HMRC with Grant Thornton.

Cyclescheme worked with HMRC to establish that existing hire agreements signed on or before the original brief (28/11) publication on the 27th July 2011 will not require VAT to be accounted for in the salary sacrifice payments.

This protects our clients and their employees from potential changes being made to existing hire agreements.

Daniel Gillborn – Head of Commercial Operations at Cyclescheme said ‘”This goes to show that working with the No.1 Cycle to Work provider, clients can be assured that they are getting the best advice and UNRIVALLED expertise.

Coupled with our recent news that Evans Cycles are joining our Partner Store network we are confident that Cyclescheme continues to represent the best proposition for ALL stakeholders i.e. Participants, Employers and especially the Independent Bicycle Dealer network (IBD), where we have consistently grown their share of this market.”