“A tax free bike for you”
The cycle2work scheme is a Government tax break, which helps you as an employee acquire a bike and safety accessories for cycling to work.
As an employee of a company participating in the cycle2work scheme, you may acquire a bike and safety accessories through your employer. It’s really simple to join, but your company needs to have signed up with us before you can take advantage of this tax break. You could make up to 52% savings on a brand new bike and safety accessories as you won’t have to pay any tax or National Insurance on the benefit.
Once your employer signs up to thecycle2work scheme, they can then purchase a brand new bike and safety accessories up to the value of £1,000 tax free, on your behalf. You will then be able to pay for this monthly from your salary over a period of 12 months – this is known as a salary sacrafice.
Top reasons to get cycling…..
- Regular exercise is great for fitness, de-stressing, improving your mood and keeping you healthy. Cycle to work and arrive more alert, with higher energy levels
- Beat the traffic and the rush-hour – get to work on time and forget the parking worries
- Save money on bus/train/underground fares and on soaring fuel prices
- Be kind to the environment – cycling reduces congestion, pollution and reduces your carbon footprint – do your bit to support sustainable transport!