Tax Free Bike Schemes
Goverment Cycle To Work Schemes
- 1. Ask your employer to sign up with one of the Government's cycle to work scheme providers if they are not already. AW Cycles has partnered with Cyclescheme, Cycle-Plus, Bike2Work scheme, Salary Exchange, Bike to Work ltd. and the NHS Cycle to Work initiative.
- 2. If you employer is partnered with Halfords Cycle2work scheme, you can still buy your bike from us, with no extra effort for you as we do all the paperwork.
- 3. You select the bicycle you want, along with any safety equipment you need.
- 4. Your employer approves the purchase.
- 5. You get the bicycle, you then pay for the bicycle out of your salary over a number of months.
- 6. The government writes off a load of tax that you would normally pay saving you up to 40% off the normal price.
It's easy to get your company on-board
If your employer isn't currently signed up to the scheme then we recommend that they talk to Cycle Scheme.
They pride themselves in giving you the best service available with the minimum of administration. The scheme is run in strict accordance to the government’s green travel plan and conforms to the requirements of the HMRC, OFT and DfT. They also provide hire agreements for employees and a free secure website for voucher processing. Their extranet site is password protected and enables you to manage employees’ applications with the click of a mouse.
Cyclescheme are very pleased to help with all the information you will need on one of the best government tax breaks so far. Cyclescheme run the scheme and the company has to be on board with the scheme before any employee can get a bicycle and equipment up to £1000. This is because the scheme can only run through what is known as a salary sacrifice, where wages are temporarily reduced to pay for the hire of goods – in this case a bicycle and equipment. The scheme is available to UK tax payers who pay PAYE. Please note that self-employed cannot take part in the scheme.
Bike fitting will only have 50% refunded when purchasing your bike from us using any of the Cycle to Work Schemes.