Back in 1998, to encourage people to ride to work, the government created a Green Transport Initiative which enabled employees to buy a bike and/or cycle equipment TAX FREE through their employer
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.
How it works
- Once your employer has signed up, call in & choose your bike & equipment.
- We'll give you a quotation for it all.
- You then apply for the scheme (usually on-line).
- After its been processed you'll either receive a voucher or confirmation that you can collect your bike.
- We swap the voucher / confirmation for your bike & equipment.
How are the savings made
- You take a salary sacrifice for the cost of the bike & safety equipment. This is usually spread over 12 months, but may vary.
- 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.
Please note Cyclescheme vouchers can not be used for second hand. We accept them against all new product which is not being sold at a reduced/discounted/sale price.
Offer / Sale items
If you would like to use your voucher against items which are currently REDUCED; we can only allow you the net value we receive from the Cyclescheme provider for your voucher.
|Scheme Provider||% to deduct|
|Cyclescheme.co.uk Bikes||10%||Cyclescheme.co.uk Clothing & Accessories||15%|