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Cycle to Work Scheme
Save at least 25% on a bike and spread the cost
Cyclescheme is all about getting you on a bike, and saving you some money. Getting a bike this way will mean you save at least 25%.
For peace of mind and simplicity...
leave it to Biketricity.
An electric bike provides you with the freedom to travel with the minimum of effort!
Call now on 01761 410118 to arrange a “hands on” experience at our showroom.
What is the Employee cycle to Work Scheme?
In order to encourage healthier lifestyles and to help reduce environmental pollution the UK Government has introduced Cycle to Work Schemes. In addition to the health and environmental benefits these Schemes also provide financial benefits to both the employer and employees.
The Government Cycle to Work Scheme provides the necessary documentation to allow an employer to set up a Cycle to Work scheme in order to provide employees with a bike and cycle safety accessories.
The key points are:
The employer buys the bike and cycle safety accessories selected by the employee. Most employers can reclaim the VAT on the bike and accessories purchased. Most employers can claim capital allowances on the bike and accessories purchased. The employer loans the bike to the employee for an agreed period. This hire period is normally 12 to 18 months. The employee pays hire charges to the employer through a salary sacrifice arrangement for the duration of the hire period. As a result of the salary sacrifice arrangement the employer saves the Employers NIC (generally 12.8%) of the salary being sacrificed.
The Cycle to Work scheme is only available in the UK
At the end of the hire period the employer can sell the bike and accessories to the employee for a nominal amount. Alternatively the employer can retain ownership of the bike and accessories and allow the employee to use the bike and accessories with no salary sacrifice.
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Welcome to BikeTricity
Home of the Electric Bike
Tel: 01761 410118
Call NOW on: 07773 656070
Winter Closing is 4pm