The most recent Budget offered confirmation that “Cycle to Work should continue to benefit from income tax and NICs relief when provided through salary sacrifice arrangements”. This is clear recognition of the Government’s official view being cycle to work is an important part of health and wellbeing for people in the workplace.
With cycle to work, you get the chance to ‘spend but save’. Did you know you could make tax and National Insurance savings not just on getting a better bike, but if you don’t need a new bike, you can get some accessories only? If you have been eyeing up a new cycling jacket, bag or other brand new bike accessories, now is the time to make it yours for less.
You can choose either to shop in your local friendly bike shop - who will be able to offer you great cycling advice and help you get set up, such as helping you with the right size bike frame to maximise your comfort - or with online retailers such as Wiggle.
If you have a relative or friend who you know would love a new bike or some cycling accessories, but may be nervous about the cost or starting an exercise routine, you can help them out potentially.
Mention the cycle to work initiative to them, as a tax break that is going to be around for a while longer. Tell them through the tax and national insurance on getting a bike or accessories through their employer, they can save money and get into an effective fitness routine that’s as gentle or as vigorous as their pedalling pace chooses!
See what you can save at:
Forward a 1 minute video to a friend to help them discover cycle to work:
Installing cycle parking for your employees is a win-win scenario. They get somewhere secure for their bikes, you save money.
Signing up to Cyclescheme and supporting cycle commuters isn’t just good news for your staff: there are big benefits for employers too.
Spring is a great time to remind your colleagues of the benefits of riding to work.