Cyclescheme is the UK’s number one provider of tax-free bikes for the Government’s Cycle to Work initiative. It’s a brilliant programme where everyone wins – employees make big savings on new bikes, employers get a healthier workforce and save money too! Cyclescheme has a great track record in helping businesses of all sizes to set up and run successful Cycle to Work schemes.
There are numerous providers of the government-backed cycle to work initiative (Cyclescheme, Cycle Solutions, Green Commute Initiative, Halfords, etc) and Bike Shed is generally able to accept vouchers from any of them. Please get in touch for confirmation.
How it Works
The cycle to work scheme is a government initiative which allows employees to hire bicycles tax-free from their employers using salary sacrifice. As the payments into the scheme are made before tax and national insurance are calculated this leads to potential savings of up to 42%
Typical example for an employee earning £18,000 pa
Please Note: Savings will differ for each individual
How to apply
If your employer is a member of a cycle to work scheme (Cyclescheme, Bike2Work etc) all you need to do is visit one of our stores, or contact us to ask us for a quotation. Quotes can be provided for bicycles and bicycle accessories only. Once we have issued you a quotation, simply forward it to your employer for approval. Once you have been approved, you’ll soon receive a certificate which can be redeemed for your new bike. The process usually takes between 2 – 3 weeks
Cyclescheme is available for mail order, however, a delivery charge of £29 will apply for bikes under £750. This charge can be included in your quotation, assuming it remains below the limit, otherwise, it must be paid for prior delivery.
Please note: Unless your employer has a consumer credit licence the maximum spend limit for a bicycle & accessories is £1000. You can purchase bikes over £1000 and pay the difference, however legal ownership of the bike will remain the employers regardless of how much extra has been paid.
Please Note: Cyclescheme is not available on bikes that are on Sale or on Promotion unless specifically stated.