Cycle-2-Work Schemes
We are a recognised partner store for all the major Cycle to Work schemes
...and we can work with some of others too! – just ask
If your employer is signed up to any of these schemes you can purchase a bike tax free!
Green Commute Initiative, Cyclescheme.co.uk, Bike2Work, C2W Support, VIVUP, Cycle Solutions, Cycle Plus
Follow our 3 Simply Steps to getting a lovely new eBike from us with a Cycle-to-Work scheme:
STEP 1: CHOOSE YOUR BIKE
Come in and see us or choose from our website, we can help you choose a bike and accessories to suit your cycling needs. You can test ride bikes to help you select a model. Once you have chosen your bike, we will then fill in all the relevant paperwork and issue you with a quotation. We then take small £100 holding deposit to reserve that bike just for you.
STEP 2: SUBMIT YOUR QUOTATION
Hand the quotation to your employer, usually the HR department. As along as they do a C2W scheme it will be processed normally in 1-3 weeks, (times may vary between schemes) Then you’ll be issued with your collection voucher.
STEP 3: COLLECT YOUR BIKE & GET YOUR DEPOSIT REFUNDED
Give us a call and arrange when to come into store and collect your bike. You can email over your voucher ahead or bring it with you, but we will need to see your I.D. when handing the bike over - whether that be in the store or at your home if the bike is being delivered to you. Then will refund your deposit. Simple!
FAQs:
What Is ‘Cycle To Work’?
It is a government backed salary sacrifice scheme, it is available to PAYE employees in the UK and is one of the most cost-effective way to get a bike for commuting and leisure use. You can of course get eBikes to make your commute even easier. Save money with these tax free bikes.
How Does The Cycle To Work Scheme Work?
Cycle to work is a salary sacrifice scheme. This means the cost of a new bike and cycling equipment is deducted from your salary as a non-cash benefit, so you save on tax and national insurance. Your employer buys the bike for you to ride to work and you ‘hire’ it from them. The ‘hire’ period is usually 12 or 18 months with monthly payments taken directly from your payslip before tax deductions.
As you don’t pay income tax or national insurance on the scheme payments you will save between 32% and 42% (depending on your tax band) on the overall cost of your new bike and accessories. Although your employer owns the bike, effectively it’s yours to use as you wish throughout the ‘hire’ period.
What Happens At The End Of The Hire Agreement?
When your hire period is coming to an end you have three options to choose from:
- You can return the bike.
- You can immediately take ownership of your bike and pay a fee based on ‘fair market value’ - HMRC has set fair market values that employers must pay to keep the bike. So, you may be asked to pay between 3-25% of the value of a bike costing more than £500 at the end of your term.
- You can extend your hire agreement at zero cost. – this is the most popular option. - This allows you to opt into a extended rental agreement at no extra cost. Your hire agreement is extended but you have nothing else to pay. At the end of the extended hire agreement (usually 4-5 years) ownership will automatically be transferred to you.
We recommend the 'THE GREEN COMMUTE INITIATIVE' as giving best value to customers, as they normally have no end-of-term costs.
Local employees & employers we have work with before include:
Doctors, Teachers, Police Officers and Nurses working for: The Hydrographic Office, NHS at Musgrove, EDF Energy, Somerset Council and many more.
We can also offer '0% Finance' and 'Business Leasing' on larger purchases.
Whoever the Employer, Whichever the Scheme & Whatever eBike you chose
We are can help you, just tell us what you'd like.
