Cycle To Work Schemes
The employer purchases the bike on behalf of the employee. Subsequently, the employee reimburses the cost of the bike through a portion of their gross salary, deducted before tax and National Insurance contributions. Consequently, this arrangement enables the employee to benefit from tax and NI savings, while simultaneously allowing the employer to save on the 13.8% employer’s NI contribution.
How does the cycle to work schemes operate?
- Visit our website or showroom in Wincanton to choose your bicycle and accessories.
- Request a quote from us. (Please note sale items or discount codes can’t be used in conjunction with the cycle to work schemes)
- We supply you with a quote which you pass onto your HR department (or whoever is in charge of the schemes at your place of work)
- The employer needs to confirm and approve the request so an invoice can be sent over along with a hire agreement form to be signed.
- Once the bike is paid for and hire agreement signed, a letter of collection will be sent over.
- These payments are then deducted from your gross monthly salary and at the end of the agreement a nominal amount is paid to own the bike outright.
- Contact us with your letter of collection to arrange when you can come and collect the bike. (Please note; if you require delivery there will be a charge of £35)
Schemes we offer
We primarily offer several schemes, including the Cyclescheme, Green Commute Initiative, My Benefits World, Gogeta and Vivup.
However, if you are enrolled in a different scheme, feel free to contact us for assistance.
Green Commute Initiative – Any bike at any price.
Green Commute Initiative is leading the industry with its cycle to work scheme with no limits. GCI scheme participants benefit from no £1,000 spending cap and no scheme exit fees. Save up to 47%, depending on your tax bracket. Pay monthly through salary sacrifice with no added interest. Get an Ebike and help reduce congestion and pollution whilst improving your health, fitness and mental wellbeing.
Cyclescheme – The UK’s most popular cycle to work benefit
Cyclescheme creates more cyclists than any other provider.
The Cyclescheme enables employees to save 25-39% of the cost of a new bike whilst also spreading the cost.
It is completely free to join and easy to administer online.
My Benefits World – Employees save between 32% and 42% off the cost of a new bicycle/accessories
Vivup – Cycle to work scheme for employees of the NHS or public organisations
If there are several of you at your workplace interested in buying an ebike on any of the schemes please contact us and we can arrange to bring some