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Welcome to Cyclescheme, the UK’s leading provider of tax-free bikes for work. We pride ourselves in giving you the best service available with the minimum of administration. Our scheme is run in strict accordance to the government’s green travel plan and conforms to the requirements of the HMRC, OFT and DfT. We also provide Hire Agreements for employees and a free secure website for Certificate processing. This extranet site is password protected and enables you to manage employees’ applications with the click of a mouse.
Our simple animation will talk you through the basic process for Cyclescheme:Back to top
How Cyclescheme works
You sign up with Cyclescheme and you're given access to our online system.
Cyclescheme provides you with all the promotional material you could possibly need to promote your new Cycle to Work scheme.
How it works:
- Your employee individually gets a quotation at one of Cyclescheme's 2000+ high street retailers, or online at both Click and Collect and Home Delivery retailers.
- The employee requests a Certificate through the Cyclescheme website.
- You approve the request. Cyclescheme sends you an invoice for the bike package, and a Hire Agreement is sent to the employee to digitally sign.
- The same day the package is paid for, an eCertificate is sent to the employee, within 15 minutes of Cyclescheme receiving funds.
- The employee contacts their chosen retailer to arrange collection or delivery of the package.
- The cost of the package is deducted via salary sacrifice. At the end of the hire period, the employee pays a Market Value payment to make the package their own. Cyclescheme can collect this payment for you.
- Savings when using Cyclescheme's End of Hire process are at least 25%, with no additional fees. You can watch our End of Hire animation here.
- The scheme is available to UK tax payers who pay PAYE. Self-employed workers are unable to take part in the scheme.
How to get started
When you're ready, click the button below to register:
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Is it a Government Scheme?
Yes. Within the Government’s Green Transport Plan, there’s a tax exemption which allows employers to provide cycles and safety equipment to employees as a tax-free benefit. Technically speaking, employees actually hire the bicycles from you, buying them at the end of the salary sacrifice period for a Fair Market Value payment. Cyclescheme will collect this Fair Market Value payment for you, and we can also offer highly competitive finance packages from well known providers.
The employer buys the bikes and safety accessories at full retail price. The balance is recovered from a reduction in the employee’s gross salary, and employers also benefit from National Insurance contribution savings. The net result? You save money on every bike you process through the scheme!Back to top