CYCLE TO WORK AND LOSE POUNDS!
UPTO 50%DISCOUNT AVAILABLE!
Please click for - CYCLESCHEME SAVINGS CALCULATOR
   
You could get a tax free new bike at up to 50% off the recommended retail price. The Government’s Green Transport Plan allows you to lease a bike from your employer, exempt of Income Tax, National Insurance and VAT. You get to have fun cycling to work and get fitter in the process.
This incentive has been running for over 3 years, but only up until recently has the public really been made more aware of it. The basics are simple - your employer can contact the likes of Cyclescheme or Booost to register their interest. You choose your bike from us - we send the paperwork - you get your bike at up to 50% off!
The scheme operates on a salary sacrifice where the discounted amount is deducted from your wages by you not paying your usual VAT, Tax and National insurance you are normally liable for. You pay the outstanding balance through your monthly wages over a predetermined period of time as agreed with your employer.
This is a form of lease and at the end of the payment period your employer sells you the bike for a peppercorn fee - say 1% of the normal value of the bike and then the bike is yours for good!
How does it work?
You get a new bike at up to 50% off the recommended retail price.
The Government’s Green Transport Plan allows you to get a bike, through your employer, exempt of Income Tax, National Insurance and VAT. You pay the money back by a small salary sacrifice each month- with no taxes on the payment.
You're actually leasing the bike from your employer, but it becomes yours at the end of the lease. Normally you then pay a small final fee to own the bike outright.
Won't it cost the company?
No - in fact they'll save money too.
The scheme works on a salary sacrifice system and the monthly deduction for the bike comes out of your gross earnings. It’s not subject to Employer’s National Insurance and profitable companies can benefit from corporation tax savings and actually generate funds.
For Example:
Here’s how this scheme could work if your employer bought a bike and accessories package worth £600 (£500 bike plus £100 accessories). The first figure (S) is for standard (22%) rate income tax and the second figure (H) is for higher rate (40%) income tax which is applied to earnings above £32,400. NB: Employee's NI contributions diminish dramatically above £32,760.
PLEASE CLICK FOR LINK TO - CYCLESCHEME SAVINGS CALCULATOR
What do I do next?
Talk to your HR to see if they are interested in the scheme and then contact us or Cyclescheme.co.uk to get the wheels in motion!
Retail Price inc. VAT: £600 (S). £600 (H)
VAT Saving: £89.36 (S). £89.36 (H)
Retail Price less VAT: £510.64 (S). £510.64 (H)
Suggested Repayment Period: 12 months
Income Tax Saving per month: £9.36 (S). £17.02 (H)
National Insurance Saving per month: £4.68 (S). £0.43 (H)
Monthly salary sacrifice after tax savings: £28.51 (S). £25.10 (H)
Total Cost of Bike Package: £342.16 (S). £301.24 (H)
TOTAL SAVING: £257.84 (S). £298.76 (H)
We are stockists of various major brands, all of which are relevant to the scheme. Please click on a logo to view the full range of bikes available. Once you have made your choice, and your transaction has been processed, you can visit the shop with your voucher or if you are not local and would like us to send you the bike contact us for further details on a mail order transaction and delivery.
    
    
For further information and FAQs please visit:
www.cyclescheme.co.uk
We have processed over 200 successful applications through our partners at Cyclescheme.co.uk since the beginning of 2006!
Alternatively please contact us for further information on the scheme. Don't delay, make full use of this fantastic offer before Gordon Brown does a U turn on his half price bike!
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