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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.Back to top
How Cyclescheme works
You sign up with Cyclescheme; you're given access to our online system.
Employees visit one of over 1,850 participating bike shops to select the bike and equipment that they want; they will be given a paper quote. They use Cyclescheme's online tool and apply for their chosen package by entering the details online and requesting 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 sign.
As soon as the bike is paid for, the Certificate is sent to the employee.
The employee contacts their chosen bike shop to arrange collection.
The balance 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.Back to top
How to get started
When you're ready, you can click here to register
We look forward to being of service. 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