At Bike to Work we offer employers a full automated service that drastically reduces the resources required to run the cycle to work scheme.
Our service if free of charge, our aim is to help you take advantage of the Government initiative offering tax free bikes for cycling to work.
Cycle to Work Scheme for Employers
Using our service for the cycle to work scheme, your company can purchase a brand new bike and safety equipment worth up to £1,000 tax free, for your employees. You can use a salary sacrifice arrangement to allow your employees to hire the bike monthly. This means that the employees saves up to 42% of the retail price of bike and equipment but your company also makes a saving of 13.8% on NI contributions.
Who are Bike to Work Ltd?
Bike to Work is an independent company created to help both employers and employees take advantage of the Green Transport Plan Initiative and the associated tax benefits of the scheme.
Bike to Work use our industry experience and trade contacts to encourage employees to avail of the cycle scheme on a bike of their choice from their local participating bicycle shop.
Bike to Work handle the majority of the administration for the employer at no charge, and provide a single point of contact for enquiries and invoices. All this while maintaining the best choice of bikes for employees.
For larger companies Bike to Work can visit your company to help employers promote the Cycle to Work Scheme. This involves Bike to Work visiting work locations to advise staff on how the cycle to work scheme works and show the types of bikes on offer under the scheme.
Bike to work will take care of all the administration associated with the Market Value, collection, return and disposal of your employees bike.
Bike to work will assure that the process is compliant with HMRC guidance and adheres to the published valuation table, removing the risk of future investigation.
What are the benefits to the employer?
- Improving Your Company’s Environmental Image
Encouraging cycling to work reduces carbon pollution and shows the employer has a keen interest in the well-being of the local community and environment. This will improve the company’s corporate image and demonstrate corporate social responsibility.
- Improving Staff health, fitness and morale
A healthier, fitter workforce means better performance at work and fewer sick days being taken. Furthermore, the employer is seen to be concerned about employees welfare. The Scheme also offers a tangible benefit to staff in addition to the basic salary package.
- Reducing Parking and Congestion Problems
Relieve pressure on corporate parking and traffic congestion.
- Introducing a cycle to work scheme will reduce traffic congestion and subsequently pollution on the roads in the surrounding area. Furthermore, fewer allocated spaces will be needed/demanded in the workplace for parking thus reducing the companies exposure to the recent car parking tax.
How our service works
- Once you register, Bike to work will set up a unique company microsite and you circulate the link to your employees.
- Your employees visit their local participating bike shop to choose their equipment and obtain a written quote.
- Your employees submits this quote on the microsite and the HR person will be emailed a request for approval.
- Bike to work will invoice you for the bike package when approved.
- Once payment is made for the bike package by the company a secure voucher will be sent to the employee.
- This voucher is redeemed at the bike shop and the employees collects their goods.
- The employee then starts the hire payments from their gross salary, via salary sacrifice.
Request a Brochure
To find out more about the scheme, you can request a copy of our employer brochure . You’ll need to enter some basic company details before we email the brochure to you.
Scheme Set-Up and Promotion
To register your company now.
Click here to register