Cycle to Work scheme
Employees can sign up to our salary sacrifice Cycle to Work scheme − and earn a tax-free bike.You'll be able to get yourself a brand new bike and safety equipment up to the value of £1,000. And because repayments are taken directly from your salary each month you save on Income Tax and National Insurance.
Typically you'll make savings of between 30 and 40 per cent. To check out how much you might save go to the online calculator at www.cyclescheme.co.uk/calculator (opens in a new window).
The scheme is simple:
Step 1 − Find out which local shops or dealers are taking part at www.cyclescheme.co.uk (opens in a new window).
Step 2 − Pay them a visit and chose your bike and safety equipment. You'll be given a written quotation.
Step 3 − Go online at www.cyclescheme.co.uk/56558d (opens in a new window). Using your quote, place your order, request your bike voucher, and sign the hire agreement.
Step 4 − Your application will be reviewed and hire agreement digitally countersigned.
Step 5 − Providing you are eligible, you'll be issued with a 'bike certificate' to redeem at your chosen bike shop.
Step 6 − Payments will then start to be taken from your salary for a period of 12 months.
To qualify for the scheme you need to be over 18, earning above a certain wage level and have an employment contract for a minimum of a year.
You are also expected to use the bike for at least 51 per cent of work-related journeys.
At the end of 12 months you can decide to keep the bike, making any further payments, as necessary.
To find out more go to www.cyclescheme.co.uk (opens in a new window) or contact the Sustainable Travel Team on ext 38156.
Related documents
The following documents are in Portable Document Format (PDF). You can download the PDF software for free from the Adobe website (opens in a new window)
The following document is in Word format. You can download the Word software for free from the Word viewer page (opens in a new window) of the Microsoft website.