and spread the cost. work authorized the payment and I picked the bike up all within the space of 2 weeks . On top of a new bike, you can use the scheme to pay for cycling parts and safety accessories. Go for a bike, a bike and accessories, or just accessories – it’s your choice. The Cycle to Work Scheme allows you to purchase new bicycles and safety equipment for your employees. The Cycle to Work scheme lets you pay for a bike and equipment in monthly instalments through your employer over a year-long period. You will need to apply for an amount 4 Applying for the Cycle to Work Scheme Process 7. 8. Including bikes on sale! When the scheme comes to an end, HMRC will then ask for final ownership of ‘fair market value’ to keep the bike. Items purchased under the scheme must: be made available to all employees and directors; be used for qualifying journeys Cycle2Work is a letter of collection-based solution. You may think that this makes the scheme a false economy but it does not. The Cycle to Work Scheme makes cycling more affordable for employees who need a bike straight away, but can’t afford one upfront. By joining a Cycle to Work Scheme you can save hundreds of £££’s, … Wiggle – Wiggle Cycle to Work, Cycle Scheme, Bike2Work Scheme, Cycle … Bike to Work Ltd offers employers a totally free service to help you take advantage of the Government initiative offering tax free bikes for work.Using the Bike to Work scheme, your company can purchase a brand new bike and safety equipment worth up to €1,250 for a regular bike, and up to €1,500 for an electric bike tax free, for your employees. Choose your Cyclescheme package with Bike4Health. Get the gear that suits your commute. It was really easy I got a quote for the bike I wanted from my local bike shop . Employers cycle to Work Scheme. The scheme allowed me to buy a powerbike from a local supplier and I now cycle to work every day. Join today in 4 easy steps. I would recommend using the bike to work scheme to anybody If you hire a bicycle through the cycle to work scheme, you should make sure you are aware of the rules surrounding salary sacrifice schemes by reading this guidance carefully. Cycle Surgery – Tax Free Cycles, Cycle Scheme, Bike 2 work, Bike 4 staff (NHS), Cycle Plus, Salary Exchange. You're effectively hiring a brand-new bike, without paying anything upfront. In theory, after this period, your company is … As we’ve detailed in our guide to choosing a cycle to work scheme provider for employers, each provider delivers the scheme in their own way. Items purchased under the scheme are not a taxable benefit-in-kind (BIK). Although the UK’s cycle to work scheme is a government initiative, it is delivered by a variety of commercial partners, of which Bike2Work Scheme is one. Save up to 39% off a new bike with Cycle to Work Scheme To promote healthier journeys to work and to reduce environmental pollution, the 1999 Finance Act introduced an annual tax exemption, which allows employers to loan cycles and cyclists' safety equipment to employees as a tax-free benefit. Cyclescheme is the simple way to get a brand new bike, make huge savings (at least 25%!) Cycle to Work Scheme. If your employer offers the Cycle to Work Scheme then you can get big savings on our complete range of adult bikes, clothing and accessories. 1. Posted by Julie Connor on 02-May-2017 15:15:00.