Links:
cyclescheme.co.uk   |   cyclesolutions.co.uk   |   halfords' bikes for work scheme   |   Cycle to Work for Smaller Organisations   |   Janes Limited Bike to work scheme

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Tax free bike purchase

The government is promoting a tax-free scheme called Cycle to Work where an employee can get exclusive use of a brand new bike and accessories at a discount of up to 50% on the price they would pay in a bike shop. Any UK employer can take part.

Under a Cycle to Work scheme, your employer buys the bike and loans it to you to get to and from work, or to use in your work. You pay for the benefit through a salary sacrifice arrangement, where an agreed sum is taken out of you salary for a set period, often 12 months. At the end of this time who will almost certainly be offered the opportunity to buy the bike for a nominal sum. Add up the figures and the total is much less that you would have had to pay if you had bought the bike yourself.

The GoCycle Team can advise your employer on how to set up a scheme. And if they don't want to set it up themselves there are companies can do all the work for them. Further details are available on the Cycle Loan Scheme webpage.

Please let us know if you would like our help to get a scheme started where you work.