Finance
Green Commute Initiative
Cycle to Work (Salary Sacrifice) is a simple scheme whereby an employer can provide staff with an electric bike ‘tax free’ at approximately half the retail price and at no cost to the company.
We work with many of the leading schemes including CycleScheme, Enjoy Benifits, Cycle Solutions and Green Communities Initiative.
The Benefits
- The employee obtains the bike of their choice ‘tax and vat free’, by saving on the PAYE and NI contributions.
- In addition the company saves the national insurance (12 .8 %) on the reduced salary whilst providing its staff with an excellent benefit that provides an efficient and environmentally friendly form of transport.
- The company can treat the cost as capital expenditure and claim capital allowance in the normal manner.
- The additional, and hopefully obvious, benefits include a healthier, motivated and timelier workforce who will not require costly parking facilities at work, estimated at around £2000 per space.
Cyclescheme
Cycle to Work (Salary Sacrifice) is a simple scheme whereby an employer can provide staff with an electric bike ‘tax free’ at approximately half the retail price and at no cost to the company. This can enable employees to save up to 48% of the cost of a bike...amazing and really simple.
We work with many of the leading schemes including CycleScheme, Enjoy Benefits, Cycle Solutions and Green Communities Initiative.
Please note that Cycle to Work Scheme will incur an admin fee of up to 15% of the cost of the invoice. This is because each cycle to work scheme charges for their services. This ranges from 10-15%
Insurance with Pedalsure
lthough not mandatory by law, we recommend that you take out some insurance or check with your house insurance that you have cover in case your bike is stolen or if you have an accident.
We work in partnership with Pedalsure one of the leading bike insurance companies. We can offer you 30 days free insurance as well as a number of other benefits including
- Bike theft cover at home or away
- £250 accessories cover
- Accidental damage
- Bike replacement is on a new for old basis.