This is made possible by the government's green transport plan which not only aims to reduce environmental pollution and promote healthier lifestyles but also make cycling to work a cost-effective option for employees.
You can choose any type of bike and accessories; typically up to £1000. Although recent changes mean the value can be higher, depending on your company's circumstances. Check via cycle scheme or your companies HR department to see what value package is available.
Sale bikes are not available on any cycle to work schemes, however please contact us if you have any queries regarding a specific bike.
The cycle to work scheme is an annual tax exemption which allows employers to purchase bikes and equipment which is then hired to employees as a tax-free benefit. The cost of purchasing the equipment is recovered via salary sacrifice, which usually runs over 12 months. As such, employers pay less national insurance for participating employees as their salary has been slightly reduced to cover any payments for the bike.
Employees may then be given the option to purchase the equipment at an agreed fair market value which is determined at the start of the agreement. The scheme rules can vary so it is worth checking and considering the rules set out within the scheme being used by your company.
Simply sign up here and we'll do the rest! If you have any questions just give us a call or drop us an email and we'll guide you through all the steps to make sure your company is cycling to work before you know it!
Private company schemes – If your company operates their own in house scheme, please contact us and we can liaise directly with them.