Cycle to Work Scheme
Cycle to work is a government scheme delivered through employee benefits. This employee benefit can be the equivalent of up to 42% off bikes and safety related accessories through a salary sacrifice scheme.
It works as employees agree to allocate a portion of their salary for a non-cash employee benefit. The employee selects a bike that their employer will then own. Hire payments are taken from an employee’s gross salary and these hire payments are not subject to tax and NI contributions. The employer owns the bike with the employee leasing the bike from the employer. You can only have one scheme running at a time, but once one scheme is complete (typically 12 – 18 months), you can apply for a new one, and you don’t have to buy a bike each time – you could buy accessories.
Check out if your employer offers a cycle to work scheme, and if they do, come and visit us to look out our awesome range of bikes.
If your employer doesn’t currently have a scheme, take this information to them, or come and talk to us. Similarly, if you are an employer and want to offer this employee benefit, we can talk you through the simple process.
What’s available under the Cycle to Work Scheme?
- Bikes (up to £1,000 through the finance scheme)
- Safety Equipment: helmets, reflective clothing, bells, lights, mirrors, mudguards, shoes, pedals, clips, panniers, dress guards, luggage carriers, locks and chains, maintenance equipment (pumps, puncture repair, tool kits, tyre sealant) reflectors, child seats.
- You visit us and select your bike/accessories
- We give you a written quotation to submit to your employer who will approve your quotation and issue a certificate
- You bring us the certificate to redeem against your chosen bike – don’t forget to bring along your photo id, we must have this before we can hand over the bike
- Salary sacrifice commences on the VAT free price of the bike
- We'd love to see you and your bike after 6 weeks for a free bike check
- The hire agreement ends and the provider offers the employee their options of a continued hire agreement or a buy-out.
- Ownership of the bike is transferred to the employee or the bike is sent back to the provider
We accept vouchers from both Cyclescheme and Bike2work. Call into store today and ask our team for more details.