The bike to work scheme is a government initiative that allows an employee to purchase a
bike and safety equipment up to the value of £1000
The idea behind the bike to work scheme, which is part of the government's green travel plan, is to get people out of their cars and using bikes to both cut congestion and to reap the health benefits that cycling can bring to both employee and employer. Buying a bike on the scheme is easy and real savings can be achieved.
How Does It Work?
First you get your employer to sign up up for the scheme (if they aren't already!).
Then you call in to choose your bike and safety equipment, we give you a quote and you then apply for the scheme.
The bike is then bought by your employer who reclaims the VAT(if applicable), at this point you normally receive confirmation or a voucher. You then come into the shop where we swop this voucher for your bike and equipment.
The VAT free price is then deducted from your wages as a salary sacrifice typically over a 12 month period, the salary sacrifice is off your gross wage, so you do not pay income tax.
The actual discounts available are based on your own personal tax circumstances but generally speaking you would expect to save at least 30% on the SRP.
If you’d like to know more about the bike to work scheme just call into the shop.
We currently work with the following providers, if yours isn’t listed we can normally sign up with them.
Your provider not on this list?
Pop in, we can usually register with them so that you get the bike you want.
23 Hilton Street
Tel:0161 222 6015