Cycling is one of the UK’s most popular recreational activities, and the Cycle to Work Scheme assists you in purchasing brand new bikes and accessories, making tax and National Insurance savings. You can sign up for 12 or 18 month payment periods.
Why choose the Cycle to Work Scheme?
The salary sacrifice tax savings available via the Cycle to Work Scheme mean that you can save up to 42% on a wide range of cycling equipment and cycles (over 27,000 bikes from leading brands). You can spend from £100 up to £1000 with the scheme and make the savings as a result of reducing tax and National Insurance on the amount “sacrificed” from gross pay over 12 or 18 monthly instalments.
86% of employees believe cycling to work has led to health benefits including weight loss and reduced stress. It doesn’t just benefit existing cyclists; with more than 60% of scheme users stating they were a novice or occasional cyclists prior to joining the scheme, it really is a benefit for everyone.
The bike can be used for leisure riding as well as commuting.
* Cycle to Work Alliance Survey, December 2015