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Welcome to Cyclescheme, a leading UK cycle to work provider. Cyclescheme is an engaging employee benefit that’s free to join and simple to run. We won’t overwhelm you with administration; Cyclescheme can be managed with a few clicks. Our safe and secure extranet site gives you an overview of the scheme in your organisation and highlights any actions needed.
Cyclescheme is backed by the Government’s Green Transport Plan and runs in accordance with HMRC, OFT and DFT regulations.
Our simple animation will talk you through the basic process for Cyclescheme:Back to top
How Cyclescheme works
Cyclescheme is the easy way for your employees to get a brand new commuting bike, make a brilliant tax saving (of at least 25%) and get to spread the cost too.
Step 1 – Your employee visits one of over 2,000 Cyclescheme retailers (from the big names, to local independents) and chooses their commuting gear.
Step 2 – The employee accesses your personalised and secure Cyclescheme area to request a certificate. Once you’ve approved the request, Cyclescheme sends you an invoice for the certificate amount. Your employee then receives their Hire Agreement direct to their inbox.
Step 3 - Cyclescheme pays for your employee’s commuting gear, and they can arrange to collect their goods. The salary sacrifice deductions kick in, and your employees gets to spread the cost of their new item(s) and make a tax saving at the same time. Meanwhile your organisation starts to save up to 13.8% in National Insurance Contributions.
Step 4 - At the end of the Hire Agreement, Cyclescheme contacts the employee to talk through their ownership options. Watch our End of Hire animation here to find out more.
How to get started
Register with Cyclescheme today and introduce a new and exciting benefit to your organisation.
Signing up is simple and takes just 10 minutes, and within 24 hours you could be welcoming your first employee to the scheme. You will receive a personalised link to your Cyclescheme area to share with employees and access to the Cyclescheme extranet which is packed full of free marketing resources to use to promote your scheme.
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Is it a Government Scheme?
Yes! The Government wants to reduce congestion and emissions in our cities; that’s why they created the Green Transport Plan. This encourages working adults to swap their car commute for a cycling one, and as an incentive they will benefit from a tax exemption on the cost of their cycle commuting goods.
Under the cycle to work scheme, your organisation buys the commuting package at full retail price and hires this to your employee over a fixed period of time. During this time, this balance is recovered through a reduction in the employee’s gross salary (meaning they make Tax and National Insurance savings – and you make National Insurance Contribution savings too!). At the end of the hire period, Cyclescheme steps in and lets employees know what their ownership options are.Back to top