Going to work on the bike

[pmapp]

Howdy all, just after some folks thoughs on this if thats OK.........


I currently have a company car, which I use for private use etc.
Work are having a re-jig at the mo' and have put the following offet to me....

Use my bike for work - giving them the car back.
They up my salary between ?1000 and ?1200 + the ?660 I currently pay for benefit in kind ??? (Tax ain't my strong point)
They pay me 35p per mile for business use.


Just wondering what yer thoughts are?
I can do my job on the bike, not really a problem (visit sites - IT support).

Anyone know a rough figure for how much my insurance would go up to include business use?



Bit of a garbled post, only just got a mail from 'em and wanting info to ponder on.
Thanks in advance,
Phil

around ?125 - Get them to pay that too though

1000 - 1200 a year?

Tell them to stuff it, you'd lose that in depreciation on a bike in 6 months when you start racking the miles up. I'd be looking at enough to buy me a new SV every year if it was being used almost exclusively for them.

[Wideboy]

you'd have to change you insurance to say business use or get you company to sign something to say if you ever have the misfortune of having a prang up they will pay up

[Stu]

35ppm is good for a bike
but you couldn't get a car for $1000-$1200 that's what you should be thinking of - what a similar car would cost you.
Don't be fooled by the $600 tax saving. You will have to pay tax on the additional salary.
The Govt. 'value' you co. car at $2600 based on $600 tax. So start with that

[Stu]

Originally Posted by Wideboy

you'd have to change you insurance to say business use or get you company to sign something to say if you ever have the misfortune of having a prang up they will pay up

I think you will definetely go to prison for a very long time if you have not got proper insurance, only a nod & a wink that someone will pay if it goes wrong

[pmapp]

Originally Posted by Stu

35ppm is good for a bike
but you couldn't get a car for $1000-$1200 that's what you should be thinking of - what a similar car would cost you.
Don't be fooled by the $600 tax saving. You will have to pay tax on the additional salary.
The Govt. 'value' you co. car at $2600 based on $600 tax. So start with that

Sorry, should have said the car I have atm is classed as a commercial vehicle, worth about 28,000 - that's where the ?660 comes from.



Hmmmmm, a little food for thought then. Thanks peeps.

I remember the good old days when we were all encouraged to go to work on an egg! Much more economical!

My Class one Business didn't cost me anything extra which is good......on all my vehicles, though I would ask them enough to cover the cost of your bike, or why can't you have a company bike? Its worth asking!

[Stu]

Originally Posted by pmapp

Sorry, should have said the car I have atm is classed as a commercial vehicle, worth about 28,000 - that's where the ?660 comes from.



Hmmmmm, a little food for thought then. Thanks peeps.

I meant annual benefit rather than actual worth. but commercial vehicles were taxed really cheaply, so not much of a saving.

Commuting on a bike is great (& I don't think the additional insurance is anything at all - it's just the resultant additional mileage) also my 2 speeding tickets the copper put down SDP without asking me (I was commuting at the time)

But riding in work time is a different matter- all the time saving benefits are not yours but your employer. Do you reaaly want to ride a bike in the middle of winter for someone else's benefit? ( & ins. covering working at different locations I would have thought would be more - is that what you mean 'Thunder?)