Cycle to work schemes are a government-backed initiative designed to help employees purchase bikes and cycling accessories through their employers, typically with tax advantages. These schemes utilize a salary sacrifice arrangement, allowing employees to pay for the bike and equipment from their pre-tax salary, resulting in potential savings on income tax and National Insurance.
Providers that we accept
How does the Cycle to Work scheme work?
There are a few different scheme providers out there each with its own variations but the basic idea is the same.
It’s a simple process:
Your workplace registers with a scheme provider
You choose the bike you want
Your employer pays for it
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.