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SAVE UP TO
50%
Back in 1998, to
encourage people to ride to work, the government created a
Green Transport Initiative which enabled
employees to buy a bike & cycle safety equipment TAX FREE through
their employer. As Del Boy's theme tune said 'No income tax - No VAT' & No
NIC !
To take advantage
of this scheme your employer must either have a cycle scheme in place or
be willing to implement one through one of the 'providers' below. It
will cost them nothing & they will save tax too..
We currently
work with the following scheme providers.
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NHS scheme |
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The
Salford Council
(direct scheme) |
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How it works
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Once your employer
has signed up, call in & choose your bike & equipment.
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We'll give you a
quotation for it all.
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You then apply for
the scheme (usually on-line).
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After its been
processed you'll either receive a voucher or confirmation that you can
collect your bike.
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We swap the voucher
/ confirmation for your bike & equipment... Simple
How are the
savings made
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Your employer will
usually absorb the VAT on the sale
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You take a salary
sacrifice for the cost of the bike & safety equipment. This is usually
spread over 12 months, but may vary.
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The salary sacrifice
is off your gross wage, so you do not pay income tax or Nic on the
sacrifice.
This
is a general guide to how schemes work. It may vary.
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