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Welcome to Cyclescheme, the UK’s leading provider of tax-free bikes for work through independent bike shops. 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 will all the promotional material you could possibly need to promote your new Cycle to Work scheme.
Employees have 3 convenient choices for organising a quote for their Cyclescheme package:
- Employees shop locally by utilising any of Cyclescheme's 2,000+ highstreet retailers
- All the benefits of shopping online with the added convenience and peace of an in-store build and local collection
- The best deals delivered to your employees door
Once the employee has aquired their quotation they head over to your bespoke Cyclescheme's landing page (cyclescheme.co.uk/yourcode) and apply for their for a Certificate.
Once an employee has requested a Certificate, you can confirm eligibility and approve the request. Cyclescheme will send you an invoice for the bike package, and a Hire Agreement is sent to the employee to digitally sign.
The same day the bike is paid for, an eCertificate is sent to the employee (within 15 minutes of Cyclescheme receiving funds).
The employee contacts their chosen bike shop to arrange collection.
The cost of the bike is deducted via salary sacrifice. At the end of the hire period, the employee pays a Market Value payment to make the bike theirs. Cyclescheme can collect this payment for you.
Minimum savings when using Cyclescheme's End of Hire process are 25% (with no addittional fees what-so-ever). You can watch our End of Hire animation here.Back to top
How to get started
When you're ready, click the button below to register:
Please note that the scheme is available to UK tax payers who pay PAYE. Self-employed workers cannot take part in the scheme.Back to top
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