Equipment: Example products
Example 1: A £ 199.99 Town and Country Bike.
Savings based on you selecting a £200 Letter of Collection (LoC) in order to obtain this bike - although by selecting a higher value of LoC, you can also obtain your cycling safety equipment and make the same savings.
| Cost to lower rate taxpayer | |
|---|---|
| 18 monthly payments of: | £ 7.44 * |
| Cost to higher rate taxpayer | |
| 18 monthly payments of: | £ 6.56 † |
Example 2: A £ 349.99 Mountain Bike
Savings based on you choosing a £350 Letter of Collection in order to obtain this bike. However by selecting a £400 Letter of Collection you can also obtain cycling safety equipment and make the same savings.
| Cost to lower rate taxpayer | |
|---|---|
| 18 monthly payments of: | £ 13.03 * |
| Cost to higher rate taxpayer | |
| 18 monthly payments of: | £ 11.47 † |
Example 3: A £ 499.99 Road Bike
Savings based on you choosing a £500 Letter of Collection in order to obtain this bike. However if you select £550, you can also obtain cycling safety equipment and benefit from the same savings.
| Cost to lower rate taxpayer | |
|---|---|
| 18 monthly payments of: | £ 18.61 * |
| Cost to higher rate taxpayer | |
| 18 monthly payments of: | £ 16.39 † |
* is based on an employee who pays 22% tax and 11% NIC.
† is based on an employee who pays 40% tax and 1% NIC.
Based on price of Letter of Collection, with no finance package. The employer in this example has not recovered and passed on VAT savings to its staff. If they had, savings would have been far greater.
Note: these images and figures are for illustrative purposes only.
