Tax Free Cycle To Work Purchase – What’s it all about?
The government introduced The Green Transport Plan to encourage improved fitness and to reduce pollution and congestion in 1999. This initiative was further enhanced in August 2006 when health minister, Caroline Flint, outlined her bid to improve the nations fitness by incorporating exercise into our daily routine.
The green transport plan enables employers to offer their employees the use of a bike and biking accessories, to the value of £1,000, tax free, and spread the payments over 12 months!
Employers who are registered with a tax-free cycle scheme are able to buy your choice of bike from us and lease it back to you, with an option for you to buy it for a nominal fee at the end of the lease period. You can also purchase accessories and safety equipment with the bike.
As an example for a bike costing £500 RRP you may only need to pay around £265 and be able to pay for it over a couple of years with no interest.
So no need to wait for the bike you’ve always wanted, order from us now and get your employer to pay!
Ask your Personnel or HR Manager for more info or ask them to contact us on 01202 424945.
Cycle To Work Scheme
Cyclescheme is working with a network of independent bike shops to supply the nation with quality tax free bikes and equipment for work. They have a wealth of experience organising no-hassle tax free bikes for employees. Hundreds of companies of all sizes have already benefited from our easy-to-follow system! Coming from the cycle industry, they understand the needs of customer and bike shop, and we’ve made the process really simple. Employees apply for their tax free bike packages using a secure voucher and the details can be easily checked and approved online by human resources.
Cyclescheme website: www.cyclescheme.co.uk
It offers up to 42% savings on bikes for employees as part of the Government’s Green Transport plan but without a £1,000 Limit!
So e-bikes are possible?
Yes, you can have any value of any sort of bike. So now low effort e-bike commuting is possible. You can arrive looking cool and stylish!
Why no limit?
We’re FCA authorised so unlike the old fashioned C2W schemes there’s no £1,000 limit.
No need for employer cash!
We can normally finance the bikes so there’s no impact on employer cash-flow. It’s a no cost employee benefit.
No sting in the tail
There’s no 7% fee to pay at the end of the scheme if employees want to own the bike, providing even better value than old fashined C2W schemes.
Viva la Révolution!
There’s a revolution in commuter transport going on. e-bike commuting is fast, healthy, and really cool! So leave the car and lycra at home, forget the frustration and congestion and enjoy your e-cycle to work.
You could be on a new e-bike tomorrow. Find out more now!
HMRC Market Value Clarification
There have been some updates to the scheme, but it still provides great savings, as before. Please read the following article for details. Market Value Clarification Update