Cycle To WorkDid you know you could save around 40-50% off the price of a new bike and accessories, clothing and those other essential must haves including safety gear, if you purchase your bike via a Cycle To Work Scheme?
You can spread the cost of the purchase over the course of a year and save income tax, national insurance and usually VAT.
Some basic criteria, you need to be a UK tax payer via the PAYE system, you need to be earning more than the national minimum wage after the reduction of the bike payment and the bike needs to be used 50% for commuting purposes.
We think this scheme is one of the clearest and easiest to use considering the minefield of choices out there. It also has a great track record in helping employers of all sizes to set up and run successful Cycle to Work schemes.
The ideal bike package would ideally be below £1000, although your employer could obtain a consumer credit licence to allow bikes of any value to be processed.
Have you considered an electric bike as a commuter? With some bikes now having a range of over 30 miles on a single re-charge, these too can be purchased under the same scheme. By not using a car for your commute and cycling instead the savings are massive, then add that to the money saved from the cyclescheme and another summer holiday could be in order
The other option open to our customers is the facility for us to invoice your employer directly for an agreement to be agreed between yourselves on repayment, you will still get the same tax relief just by filling a simple form. All you loose is the '12 month loan' for the purchase.
With this option, we can offer the same deals and prices we'd offer to a customer who is not buying on any 'bike to work scheme' so you get the best deal with our best prices and the tax relief.
Give us a call or pop into the shop for any help or advice you may need.