Everything you need to know about the Cycle to Work Scheme
What is the Cycle to Work Scheme?
Put simply, the Cycle to Work scheme is a way of making savings for your organisation and your employees. The scheme has some great benefits for everyone. Perhaps most importantly, it's great for the environment and personal wellbeing.
The scheme costs nothing to set up, we take care of everything to make the process as simple as possible. As an employer, you make savings. Plus, it's a great incentive for employees and a way of helping to create a healthier, happier workforce.
One of the many benefits to your organisation is that you will reduce your Employer's National Insurance contributions by 13.8% of the value of all equipment supplied. That's effectively 13.8% cash back to your organisation.
As an employee, you benefit by paying less for a new bike and cycling equipment. The savings you make are determined by your scheme limit, tax bracket, and the bike and equipment you choose. You could potentially save up to 49% against the retail cost of your bike and accessories.
You pay nothing up front and the cost of your cycle to work bike and equipment package is taken directly from your salary. This salary sacrifice reduces your gross pay meaning you don't pay tax and national insurance on the amount of salary you put towards your new bike. It's a great way to get a new bike and spread the cost while making unparalleled savings!