Tax Free Bikes

Looking at buying a new bike?
Have you heard about the Cycle to Work scheme?

What is the Cycle to Work scheme?

Cycle to Work scheme is a UK Government initiative first introduced in the Finance Act 1999 to promote healthier journeys and to reduce environmental pollution.
It allows employers to loan cycles and cyclists' safety equipment to employees as a tax-free benefit.
The scheme was one of a series of measures introduced under the Government's Green Transport Plan.

So how does that help me?

You could save up to 47%!
The basic outline is your employer buys the bike for you, then loans you the bike.
You pay back the money back from your salary, simple so far. The clever bit is this is done before the tax is calculated on your wage package so you don't pay the tax.

Still confused?

Check out this calculator from The Green Commute Initiative to see what you could save.
https://greencommuteinitiative.uk/savings/

Sounds great. What do I do now?

Ask your employer if they're already signed up with a cycle to work scheme provider.

Your employer is already signed up with a provider?

Great, we work with the two biggest providers, Cyclescheme, and The Green Commute Initiative.
The process is simple, pop in a see us, talk bikes, lights and anything else you'll need. We'll note it down and give you a quote.
You hand that over, or input the details on the provider's website.
Now the hard part, wait until it's all approved and you have a voucher.
Pop in with the voucher, pick up your new bike and ride off into the sunset!

Your employer has no idea what the Cycle to Work scheme is?

Well, get them to check out The Green Commute Initative. https://greencommuteinitiative.uk/
They're the only provider who's a social enterprise, so not out to make a lot of money from you. Plus they make it super simple to setup.

What's in it for them?

You'll like them even more as they've just brought you a new bike?!
If that doesn't work drop in the fact that they save 13.8% in NI payments, you'll be heading for employee of the month!

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