knowledge - cyclescheme
Cycle to work
Tax Free Bikes
Buy a bike on a cycle to work scheme and save money. Your company buys the bike for you and you loan it from them. You give up part of your salary and the company provides the bike for you instead. As salary sacrifice is taken from the gross salary (before tax) rather than net pay it means you pay less income tax and National Insurance. At the end of the hire period you may be given the opportunity to buy the bike from your employer for the market value.For more detailed information on how the most popular scheme, Cyclescheme, works click here.
You get all the usual services that we do too, including free lifetime servicing, seven day customisation and test rides before you buy.
The most popular cycle to work scheme provider is Cyclescheme but there are others, including:
- SME HCI
- Cycle-plus
- Bristol University Cycle scheme
- Bike 2 Work Scheme
Please be aware that due to Cyclescheme taking a commission from us for every voucher, we cannot offer our sale prices on Cyclescheme purchases. We can, however, usually work out a sale price including the commission, which will still be lower than the standard price.
For Network Rail employees - don't buy a Cube or Specialized!
Get 10% of the bike's value in free accessories when you purchase a bike through the Network Rail scheme eg. buy a £550 bike and get £55 worth of full-priced accessories free!
Details of CycleScheme's offer. Our's is the same but available on any bike brand - you're not limited! Cannot be used in conjunction with any other offer.
Cyclescheme fair market value
There has been much confusion and speculation about the new HMRC (Her Majesty's Revenue and Customs) guidelines for the "Fair Market Valuation" of the bike when the hire period has finished and the customer wants to buy the bike from the employer.There are now guidelines released by Cyclescheme to hopefully make the government's rulings clearer. Find the guidelines here.