- Cycle to Work
Cycle to Work
Get a tax free bike and pay monthly from your salary!
To promote healthier journeys to work and to reduce environmental pollution, the 1999 Finance Act introduced an annual tax exemption, which allows employers to loan cycles and cyclists' safety equipment to employees as a tax-free benefit. The exemption was one of a series of measures introduced under the Government's Green Transport Plan.
We now offer iGo vouchers which can be redeemed in-store for any cycling related goods of your choice.
You can find more information here
WE WORK TOGETHER WITH THE FOLLOWING PARTNERS
Your employer can administer the scheme themselves or they can sign up to one of the registered schemes free of charge and they will do most of the work for them. We also work with some of the local councils who administer their own schemes, if you work for any of these, you can contact them for further details.
Not only can you get your perfect commuting bike – whether that be a speedy racer, robust mountain bike or a trusty ‘do it all’ hybrid (and everything else in-between) - you can get all the kit you need to go with it too.
If you do not require a bike, you can still obtain all the safety accessories you need using the same system.
Helmets, lights, locks and clothing are all available through the Cyclescheme initiative. Just think of it like this: you’ve got up to £1,000 to spend; how will you make the most of it?
You save an impressive amount of cash (between 25% - 39%, depending on how much tax you pay), you get to spread the cost over a year and there’s no credit check either! You’ve got up to £1,000 to spend, so make sure you make the most of the potential savings by getting a bike package that includes everything you need to cycle to work such as essentials like lights, locks, helmets and clothing.
You are able to buy 2 bikes on the scheme but the total of the 2 must not exceed £1000.
Hover over the image for a Higher Rate tax example to see how much you can save!
To see how much you can save using your own salary, use this calculator which will give you an indication of the figures.
How does it work?
- Your employer registers with one of our approved providers (see above)
- You visit or call us to make your selection and obtain a written quote for your chosen bike and equipment
- You present the written quotation to your employer for authorisation
- You will then receive a voucher from the chosen provider
- Redeem the voucher with us bringing photographic ID and collect your new bike and equipment!
- Your monthly salary sacrifice payments will then commence over the hire period which is normally 12 months
At the end of the more period, you can chose one of 3 options:
- return the bike to cycle scheme
- pay to take full ownership
- take out an extended use agreement paying a 3% deposit n bikes under £500 and a 7% deposit on bikes over £500 and then pay nothing for a further 3 years. At the end of this period the bike is yours to keep. This is the most popular option.
Once you have a bike through a Cycle to Work Scheme, it is your responsibility to maintain the bike and keep it in good working order. We have a full workshop and can offer varied servicing options. Please our servicing page for further details.
- You must receive a salary under the PAYE system to sign up for any of the Cycle to Work schemes.
- You can only join the scheme when you are under 18 years of age if your parent or guardian signs a guarantor agreement.
- We are unable to offer cycle scheme on sale and second hand bikes.
If you have any further questions, please call on 01225 444164 or email us on email@example.com and we will be able to help. Alternatively you can click on any of the Cycle to Work suppliers at the top of the page and your questions will be answered there.
Please note that all the schemes are operated slightly differently so there may be small variations to the descriptions above.