Our approach to Cycle to Work Schemes is simple, clear and easy to understand for both employers and employees.
Watch our presentation to find out why we are the Cyclescheme provider for you.
Cyclescheme is the UK’s leading provider of tax-free bikes for work. We pride ourselves in giving you the best service available. Participants can choose from over 2,000 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.
When you're ready, click the button below to register:
Transcript of Cyclescheme Presentation
Top line cycling stats
- UK cycling population in 2014 8.7 million (SMS INC)
- 43% of the population owns or has access to a bicycle (National Travel Survey)
- The National Travel Survey also says that around 8% of the population cycle 3 times a week or more.
- In total 34% of the population say they cycle once a year or more.
- According to the 2011 Census, 741,000 people use a bicycle as the main form of transport for getting to work in England and Wales,
- By 2021 we could see over 1 million people regularly commuting to work by bike.
About the Cycle to Work Scheme
- The cycle to work scheme was one of a series of measures introduced under the Government's Green Transport Plan.
- The 1999 Finance Act introduced an annual tax exemption, which allows employers to loan cycles and accessories to employees as a tax-free benefit.
- We ensure peace of mind that our scheme adheres to HMRC, and Department for Transport (DfT)
Cycle to Work guidelines
- It's completely free to join, and easy to administer online bikes hired on the scheme
- Cyclescheme operates as a Salary Sacrifice benefit. The Salary Sacrifice is taken from gross salary (before tax), which means that you will pay less Income Tax and National, insurance.
- Cyclescheme enables your employees to get a bike tax-free, saving at least 25% with nothing extra to pay.
- The payment is spread typically over 12 months. With payment made via weekly or monthly salary deductions.
- Employees have the choice to shop in-store or online
Why it’s good
- A strategic approach to CSR is increasingly important to a company's competitiveness.
- Cycling to work could halve the number of sick days we take and provide a £13.7 billion annual boost to UK businesses, according to Sustrans.
- The average worker takes 4.5 sick days each year compared to 2.4 days taken by people who cycle 66% of employees who cycle to work say they’ve been more productive since taking up cycling 77% feel more focused in the office. 80% have more energy and 82% are less stressed.
- Introducing a cycle to work scheme will reduce traffic congestion and pollution on the roads
- Cyclescheme' s unique Ownership process ensures that savings are protected for employees and is approved by HMRC.
- Cyclescheme offer this service free of charge and removes liability and administration from the employer.
- 96% of employees agree to extended use 3 year extension
- As a service provider and not a retailer, we can take an agnostic view to choice of retailer and brand…. Our efforts are around partnering with people who can get more people cycling!
Benefits to employers and employees
- 86% of employees believe that cycling to work has led to health benefits
- Of those who had noticed health benefits, 89% believed that it had improved general fitness; 52% believed that it had contributed to weight loss; and 46% believed that it had contributed to them being less stressed.
- 77% of employers consider that the scheme has had a positive impact on their organisation in relation to employee health.
- Over half of employers (56%) identified improving staff wellbeing as the main motivator for offering the scheme.
- 60% of employees participating in the scheme believe that cycling to work has improved their productivity at work.
- 52% of employers agree that the scheme plays an important role in staff engagement, emphasising the wider benefits to the workplace.
- Having joined the scheme 79% of users described themselves as enthusiastic cyclists.
- Cyclescheme can arrange on-site visits where either Cyclescheme or a local bicycle store will bring example bikes and accessories and talk to staff about how savings, accesories and cycling in general, all easy requested from the employer portal.
- If on-site visits are not appropriate, Cyclescheme can deliver all the promotional materials you need to provide employees with everything they need to understand the Cyclescheme benefits and application process.
Sign up online and we’ll have your account set up within 24 hours.