Save up to 50% off the price of a new bike!
Welcome to the Tax Free Cycle Scheme page.
Cyclesurgery are experts at providing top brand bikes at massive savings, and have been running the Government scheme for a number of years now.
The Tax Free Cycle Scheme is a simple way for you to buy a quality bike at massive savings through your company via a salary sacrifice scheme. The amount you actually save depends on your income tax band, but it typically it is between 40-50% off the usual retail price.
How does it work?
Through Tax Free Cycles you can make huge savings on a bike for work through your employer.
The Government’s Green Transport Plan allows you to get a bike, through your employer via a salary sacrifice scheme.
This means that you take a reduction in salary over an agreed term that equals the value of the bike that you have chosen. You will not pay any Income Tax, National Insurance or VAT on the bike, and you pay the money back as a monthly reduction in salary.
At the end of the period you can choose to buy the bike from your employer with one final payment at a fair market value. This is usually around 5% of the original cost. The bike is then completely yours.
This usually means a saving of between 40-50% on the cost of a bike and any accessories you choose such as safety equipment, a lock, cycling clothing and other related items.
Will it cost the company?
No - in fact they'll save money too.
Companies running the scheme will also save money, as they will not have to pay any Employers National Insurance on any reduced salaries. Profitable companies can also benefits from corporation savings tax.
What's next?
To find out more about the Tax Free Cycle Scheme and how Cyclesurgery can get you and your company on your bikes, head to our special website, full of resources to answer all your questions on running this fantastic scheme.
How Can I get my Company to sign up?
Talk to your HR to see if they are interested in the scheme and then send us some information to get the process running. Just get in touch with us on the below link and we'll get straight back to you to discuss how Cyclescheme can best work for you. We’ll hopefully have you ready to go within a few days.
My Company already runs Cyclescheme - Can I redeem my vouchers at Cyclesurgery?
We have been accepting Cyclescheme vouchers for years now, and if your company runs this as part of your benefits package – fantastic – come down to one of our stores and speak to one of the team to get first rate advice on the best bikes available for the type of riding you do and your budget.
No comments:
Post a Comment