We're part of the Cycle To Work Scheme!

Amazing!! But... what is it? And how does it work?

We have had so many requests for us to join the scheme - and we get it, it's a great scheme! - so now we are officially a partner retailer.

Ask us about our CycleToWork range and find your perfect bicycle today. 🤗

Just ask your employer if they are supporting the scheme and the rest is easier than you think, helping you manage the cost of your bike.

In order to try and explain how this scheme works and walk you through your options and next steps in order to get your perfect bicycle with us today, we have found a really useful article (sustrans.org.uk) that talks through how this works.

What is the Cycle to Work scheme?

The Cycle to Work scheme is designed to help you save money on a new work bike and spread the cost of the bike over monthly tax-free instalments through your employer.

How does the scheme work?

There are a few different scheme providers out there each with their own variations but the basic idea is the same.

It’s a simple process:

1. Your workplace registers with a scheme provider

2. You choose the bike you want

3. Your employer pays for it

4. You pay your employer back through monthly instalments taken through payroll.

Salary sacrifice periods are for a minimum of 12 months (but can be for longer) and your employer can advise on the spending limit.

Green Commute Initiative allows for the repayments to be spread over 12-48 months (as agreed with the employer), and they are registered with the FCA for Consumer Hire.

How does the tax-free bit work?

Monthly payments for the new bike are taken from the employee’s gross salary i.e. before any tax is deducted.

You’ll be paying less tax and National Insurance every month that you’re paying off the bike.

This means that at the end of the scheme you’ll have saved up to 32% of the actual cost of the bike for basic-rate taxpayers.

And even more for higher rate ones (and you’ll have spread the cost into manageable monthly payments too).

With most providers, there is an end-of-scheme payment, as technically you have been loaned the bike and you have to buy it at what HMRC call a fair market value.

This usually works out around 7%, though the Green Commute Initiative only charges £1.

The scheme is easy to access and won’t take up much administration time for your employer.

There’s a financial benefit for your employer too.

They end up paying less employer national insurance contribution so they save about 13% on the cost of the bike.

So your employer pays for the bike from you in monthly instalments, and saves 13% in the process and gets a healthier, happier more productive staff member who doesn’t need a parking space.