Cycle to Work Scheme - template form needed

by SE14   April 17, 2013  

Can somebody point me in the direction of a copy of an Extended Use Hire Agreement template/form to use in my work as part of our in-house cycle to work scheme (i.e. we don't use the external companies to run the scheme on our behalf). I can't find a copy on the web anywhere.

I have come to the end of my one year Hire agreement with salary sacrifice, and want to keep the bike on hire until such time I leave or give the bike back.

Thanks

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Well you need to work out with your employer how much of a deposit they want, Cyclescheme take between 3 and 7% of the value of the bike.

Then you have 36 months without anymore payments where you can use the bike, then either give it back and get your deposit or keep it and the company can keep the deposit....

I'll see if I can dig out a form for you or make a simple one up.

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posted by Gkam84 [7476 posts]
17th April 2013 - 14:42

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Right, I have you one, would you like it as a pdf or word document that you can fill in as needed yourself?

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posted by Gkam84 [7476 posts]
17th April 2013 - 14:54

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Thanks

They don't want a deposit - this is why we didn't go with the big companies. Essentially I get to hire the bike for free, then after 6 years or so, its value being negligible, they give it to me. If I leave in the meantime I can either give them the bike back, or they put its residual value down on my P11d as a taxable benefit.

Whilst I am not particularly against the big companies making money from the deposits - they have to cover their admin costs etc, using a DIY approach means that the bike shop that sells you the bike does not have to pay any commission to, say Cyclescheme, which means either they make better profits, or the purchaser (sorry Hirer) gets more bike for their money.

If you find a form, that'd be superb.

Thanks

posted by SE14 [4 posts]
17th April 2013 - 15:02

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a word document please

great stuff!

posted by SE14 [4 posts]
17th April 2013 - 15:10

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Don't ask where I got them, because it was sheer fluke of google and it contained someone's full details.

So I have removed all person details and the bits in bold you will need to fill up.

I have included a receipt document aswell

If you need any help, just shout

AttachmentSize
Extended Use.zip 31.66 KB
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posted by Gkam84 [7476 posts]
17th April 2013 - 16:20

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Thank you - you have been extremely helpful.

posted by SE14 [4 posts]
17th April 2013 - 16:31

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