UK Bike bought in my name / Cycle to Work for Director LMTD

[pol.szc]

Hello,
I am Director of my LTD.
I recently bought a bike, in France in my name.I mainly use this bike to go to work / to visit clients.
I'd like to pass on the cost of the bike to my company. Possibly via the Cycle to Work scheme.
- Is it too late because the bike was bought in my name?
- Can't I charge the bike back to my LTD, which will then lend it to me?
- What's the easiest way to solve this problem?
Thank you very much!

 

[Fidget]

If you've already bought it, then unlikely you can do it via CTW scheme. Those schemes usually issue a voucher for you to use to purchase, and only at participating retailers for staff on payroll.

I don't think there's anything stopping you putting it through LTD expenses given the use you're making of it, but I expect tax rules will apply in the sense of employee benefits.

 

[vantageboxes]

"Sure, the bike is registered under your name. You're all set for the Cycle to Work program. Enjoy the ride, Director! #CycleToWork #HealthyCommute"