Cycle To Work Scheme
Cycle To Work Scheme
What is it?
The Cycle To Work Scheme is an initiative organised by the UK government. The scheme is organised through your employer, meaning that you do not have to pay any form of tax on your desired product. We deliver the bike for you and you will pay back the remaining amount to your employer via your gross pay throughout the year.
How much can I save?
How much you save depends on how much you earn and therefore how much tax you pay
- Basic rate tax payers (those earning less than £50,000) will save 32%
- Higher rate tax payers (those earning more than £50,000) will save 42%
- Additional rate tax payer (those earning more than £150,000) will save 47%
- In addition, the employer will save 13.8% on reduced NICs
Our Cycle To Work Partners
Save 25-39% on a new bike for work!
Green Commute Initiative is the industry-leading and award-winning cycle-to-work scheme with no limits. GCI’s scheme has no £1,000 limit and no scheme exit fees. You can save from 32-47% (depending on your tax rate). Pay monthly through salary sacrifice with no added interest. Salary sacrifice periods can be from 12-60 months. Get an E-bike or conventional cycle through GCI and help reduce congestion and pollution whilst improving your health, fitness and mental wellbeing.
Bike2Work are a HMRC approved scheme provider of the Governments Green Transport Plan which aims to reduce environmental pollution, promote healthier lifestyles, and make cycling to work cost-effective by offering tax savings on bikes and cycling equipment. Our scheme makes it simple for Employers and Employees to take full advantage of the Government approved Cycle to Work scheme, providing all necessary paperwork and promotional materials completely free of charge. We offer a partnership of over 2,200 partner bike shops including a selection of online stores.
