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BIKE SCHEME

Valuable all round

One of the most popular employee benefits out there, our cycle2work scheme is a government-backed initiative that helps your employees save up to 42% on the cost of their bike and safety accessories, while you’ll save full Employer’s National Insurance (NI), usually 13.8%, on the total salary sacrifice value. Your employees can pay for their bike over 12 or 18 months, spreading the cost and saving on tax and NI too.

It’s a great way for them to save money and stay healthy, and for you to cut your NI and improve your green travel plan with a bike to work scheme.

With our cycle scheme, your employees effectively hire the bikes from you, paying through a salary sacrifice arrangement (using their regular gross or pre-tax pay). That means they’ll save between 32% and 42% on the cost of their bike through lower tax and NI contributions. They’ll be given a voucher (called a ‘letter of collection’) for the cost of their bike and accessories once the scheme’s set up and then usually start paying for their bike from their next pay day.

We work with a number of retailers - including Evans, Halfords and a range of independent bike retailers - so you can choose the best option for both you and your employees.

Valuable to you

  • You can save Employer’s NI contributions (usually 13.8%) on the total salary sacrifice value
  • Helps you keep hold of your employees and keep them healthier and happier
  • Reduces those common parking headaches
  • Shows your commitment to the environment
  • Choice between our partners Evans or Halfords, and the independent bike retailers

Valuable to your employees

  • Saves them money on the cost of their bike and accessories through reduced tax and NI contributions (usually 32% for Basic rate taxpayers and 42% for Higher rate taxpayers)
  • They can spread the cost of the bike over 12 or 18 months
  • No credit checks
  • Saves them money on the day-to-day costs of running a car
  • Helps them stay fit