More Information

Cycle To Work Scheme

The 1999 Finance Act introduced a tax exemption which allows employers to provide employees with bicycles and accessories as a tax-free benefit. The Cycle to Work scheme is part of the Government's Green Transport Plan, promoting healthier journeys to work and reducing environmental pollution.

Further details of the Government initiative can be found here: www.direct.gov.uk/en/TravelAndTransport/Cycling/DG_190101

Operating via salary sacrifice, payment for the bicycle by the employee is by way of deductions from gross pay, typically spread over 12 months. This gives rise to tax and National Insurance savings for the employee and National Insurance savings for the employer too.

Savings of up to 50% on the full retail price of a bike are possible under the scheme but the savings achieved are dependent on individual circumstances.

We work with a number of cycle to work scheme providers including Cyclescheme and Bike2Work as well as with employers who manage the scheme in house.

The web sites shown above all contain information about the scheme and what is involved for the employer and employee. If you would like further information then please contact either of our stores or mail us on sales@cyclesport-lincs.com and we will try to answer any questions you might have.