All you need to know about the Cycle to Work Scheme

What is it all about?

 

An Electric Bike to suit every rider…

Electric bikes help to boost the users natural pedalling power and gives riders the ability to ride further and longer with less effort. Hilly journeys are flattened, tiring rides become a comfortable commute and the barriers to getting back on a bike are effectively removed.

 

Our range of folding bikes:

ENGWE EP-2 Pro
SAMEBIKE-20LVXD30
PhazedE EFT 26 4.0 Fat Tyre
PhazedE EFT 20 4.0 Fat Tyre
Paselec PX6
Samebike LO26

 

For Employers

The scheme costs nothing to set up, Cycle to Work take care of everything to make the process as simple as possible. As an employer, you make savings. Plus, it's a great incentive for employees and a way of helping to create a healthier, happier workforce.

One of the many benefits to your organisation is that you will reduce your Employer's National Insurance contributions by 13.8% of the value of all equipment supplied. That's effectively 13.8% cash back to your organisation.

 

Example of Savings:

Total Cost of Goods:           £1050

Salary Sacrifice:                   £88.33
(from your Gross Pay each pay period)

Actual Pay Period Cost:      £60.06
(from your pocket in each pay period)

Total Cost:                             £720.77
(over 12 months)

You save:                              £329.23

Mixed Commuters

It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.

 

How does the scheme work?

It works in a similar way as 0% finance with the additional benefits of:

  1. As a company its FREE to join

  2. As a company you can save 13.8% on National Insurance Contributions

  3. As an employee you can save up to 49% of the retail price of the bike and accessories.

 

For Employees

As an employee, you benefit by paying less for a new bike and cycling equipment. The savings you make are determined by your scheme limit, tax bracket, and the bike and equipment you choose. You could potentially save up to 49% against the retail cost of your bike and accessories.

You pay nothing up front and the cost of your cycle to work bike and equipment package is taken directly from your salary. This salary sacrifice reduces your gross pay meaning you don't pay tax and national insurance on the amount of salary you put towards your new bike. It's a great way to get a new bike and spread the cost while making unparalleled savings!