We're well happy to be affiliated with Cyclescheme, the UK's most popular Cycle to Work benefit scheme. You can save over 25% on cycle kit - how good is that?
If your employer already offers the scheme then that is perfect :-)
If not then you can persuade them to join..... it isn't that difficult to do and is a great perk for them to offer.
All the information needed for both employees and employers is on the Cyclescheme website. https://www.cyclescheme.co.uk/
Once they have joined then this is all you have to do to save over 25%:
- Decide what items you want and how much you want to spend.
- Request your company to obtain a Cyclescheme e-certificate for the items
- Create an account (if you haven’t already got one) on Sprocket and Gear website
- Email your e-certificate to support@sprocketand gear.co.uk
- We’ll verify your e-certificate so you can use it on our site and send you an email to confirm
- Then just shop as normal using your e-certificate voucher code at checkout
Happy days !
How much will I save with Cyclescheme?
At least 25% - all in! If you’re a higher rate taxpayer, you’ll save at least 35%.
What can I get through Cyclescheme?
Almost any item you need to cycle to work including lights, locks, helmet and clothing. Go for a bike, a bike and accessories, or just accessories – it’s your choice.
What is a Hire Agreement?
It’s an agreement between you and your employer. This details what you’re hiring, for how long and with what repayments.
How is my salary sacrifice calculated?
This depends on how you get paid – weekly, monthly, 4 weekly, etc. Also, how long your Hire Agreement is in place for. For most people, this is 12 equal payments taken from your salary across 12 months.
What is a Cyclescheme eCertificate?
A voucher that’s delivered direct to your inbox. Redeem this online or in-store for your Cyclescheme package.
Why don’t I own the bike straight away?
Simple answer: tax. To benefit from Income Tax and National Insurance savings, an ‘Ownership Fee’ needs to be paid.
How is the Ownership Fee calculated?
The Ownership Fee is a set percentage based on the age and value of your Cyclescheme package. At 4 years old, 3% needs to be paid on packages less than £500 and only 7% on packages over £500.