About the Scheme

Cyclescheme enables employees to get a bike tax-free, saving between 25-42%. Employers also enjoying National Insurance savings of up to 13.8%.

Participants can choose from over 2,100 retailers and enjoy the ability to shop in-store or online. Cyclescheme is simple to set up and managing the scheme requires only a few clicks per request.

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Introduction

Welcome to Cyclescheme, the UK’s leading provider of tax-free bikes for work. We pride ourselves in giving you the best service available and invest in our systems and processes to ensure employer administration is a breeze. Our cycle to work 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:

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How Cyclescheme works

Employers sign up with Cyclescheme and are given access to a unique MySchemes Account.

Cyclescheme provides you with all the promotional material you could possibly need to promote your new Cycle to Work scheme (including a customisable poster builder). 

How it works:

  • Your employee gets a quotation at one of Cyclescheme's 2,100 retailers
  • The employee requests a Certificate through the Cyclescheme website
  • You approve the request. Cyclescheme sends you an invoice for the bike package
  • 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
  • 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 take ownership 
  • Cyclescheme can collect this payment for you. You can watch our End of Hire animation here
  • The scheme is available to UK tax payers who are paid via PAYE
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How to get started

When you're ready, click the button below to register:

Register here.

 

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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!

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