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New Tax Incentives

In the budget in March 2010, Alistair Darling gave the self employed person who wishes to purchase scooter or motorbike the right to offset the price for tax purposes. In effect, if the scooter or bike is bought solely for business use, the whole purchase price can be claimed back from the taxable profits where it can now be declared on tax returns as an annual investment.

Following this change, Scooter and motorbike manufacturers have combined to form the campaign group Get On specifically to promote the sales of scooters and motorbikes for business use. According to the group, a person on the 40% tax band could save £2,728 on a Honda CBF costing £6,821. At the other end of the market, £100 can be saved on a £500 50cc bike purchase by a low rate tax payer and £200 by someone on the higher rate. The savings here will vary depending on both the cost of the vehicle and the tax band of the purchasers. It is worth bearing in mind that if the self employed purchaser is registered for V.A.T., this element of the purchase and running costs can additionally be reclaimed. Get On is also now offering free of charge one hour training sessions provided by local instructors to give individuals the opportunity to try the experience of riding a scooter or bike before enrolling for the compulsory basic certificate necessary to drive on the UK roads.

This tax saving will prove to be an added incentive to the self employed person who is perhaps already considering using a scooter or a bike for business instead of a car. He/she can travel quickly and more easily to meet clients and, in London particularly, can save considerably on congestion charges which are not applicable to two wheeled vehicles. Additionally, it is easier to get through heavy traffic on a scooter or bike and there are no parking charges.

Scooter and Bike Insurance

Before the scooter or motorbike is used on the road, it is a legal requirement that insurance must be taken out by the rider who is now faced with an array of options about the type of cover and, of course, the cost. Third party, fire and theft is currently the most popular form of insurance and is often an ideal choice for owners of the new scooters and bikes.    Many purchasers of less expensive, perhaps second hand models might opt for third party only. There are many factors taken into consideration by the brokers when giving quotes for insurance, eg cost of vehicle replacement, age and experience of the rider and where the scooter or bike is parked overnight. Some brokers give discounted rates for new scooters and bikes, for female drivers or drivers over 50 years of age etc. so it is wiser for the new scooter or bike owner to cast a wide net before purchasing insurance.  In the past, this process would normally be a time consuming and frustrating experience.  However, here at scooter-insurance.co.uk, you can quickly check multiple insurers by trying our easy online quotation system.  Special deals are always worth looking out for and right now this website, Scooter-Insurance, is currently offering to beat any other scooter insurance quotation within the UK market.