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SAVE MONEY AND SPREAD THE COST WITH A CYCLE TO WORK SCHEME

Don’t buy a bike or cycling equipment until you’ve read this. A Cycle to Work Scheme like Cyclescheme can save you hundreds of pounds compared to cash or credit.

With Cyclescheme, you pay nothing up front, and then there are 12 monthly payments. If you were looking at a bike and accessories which cost £1,000, the monthly payments are £83.33. You'd pay this amount through salary sacrifice. It’s deducted from your gross salary, not your net earnings. That means you don’t pay income tax or national insurance on the payments you’re making on the bike. This is where the savings come from.

A basic rate taxpayer normally pays 20% income tax and 12% national insurance, so would save 32%. On a £1,000 bike, that’s £320. So the bike is essentially £680 and the 12 monthly payments are £56.67 net.

How it works what can i save

SAVE 25 - 39% WITH CYCLESCHEME


Cycle to Work Day is run by Cyclescheme - the UK’s most popular Cycle to Work scheme.

To benefit from Cyclescheme your employer needs to be on-board first. Luckily over 45,000 employers and 9 million UK workers already have access to Cyclescheme, and you could be one of them.
 
If your employer isn’t signed up, they can join for free in less than 5 minutes.

1.Is your employer signed up?


Ask your HR team or contact Cyclescheme to find out. If your employer isn’t signed up – invite them to join for free. As well as saving you money, Cyclescheme saves employers money too. 

2.Pick your bike and / or accessories


You can shop with Cyclescheme in over 2,000 retailers - in-store, online, via click & collect and brand direct. Choose the gear you need to cycle to work and submit your request at cyclescheme.co.uk.

3.Save £££s and spread the cost


Your employer pays for your gear and you repay the cost  with a tax-saving. After 12 months, you pay a one-off ownership fee. All in, Cycleschemers tend to save 25 – 39%. Find out more.

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