Cyclescheme helps you save money on a new bike for work. Get on board and save at least 25% on your next bike!
Cyclescheme offers big savings on the best bikes and kit. Dealing with Cyclescheme’s network of over 2,000 retailers gives you the widest choice of equipment, but also the most convenient, easy and enjoyable way of getting a new bike or accessories for cycling to work.
The Cycle to Work scheme allows you to save money on the cost of a new bike and accessories through a simple salary sacrifice arrangement with your employer. The way it works is simple – you give up part of your salary and receive an equivalent benefit that is exempt from Income Tax and National Insurance.
What does this mean in practice? Well, technically it’s your employer who buys the bike. You then hire the bike and accessories from your employer, and pay back the cost of the bike from your gross salary (before tax). You save on Tax and NI payments, lowering your payments the amount you repay over the hire period and resulting in an overall saving of at least 25%.
Cyclescheme runs schemes with the BBC, Google, and Rolls-Royce, as well as scores of police forces, councils, universities, blue chip companies, and many government departments too.