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CYCLE 2 WORK SCHEME
Cycle to work is a great way to stay in shape and keep your carbon footprint down to a minimum while saving money.
HOW IT WORKS
The process for scheme is kept simple, your employer will provide you with a voucher to hire a commuting package of your choice which can include the e-Bike itself, and any equipment needed for cycling to work which may be a cycling helmet, clothing (Hi Vis vest etc) and accessories (Pumps, Locks, Repairs kits etc).
The cost of your voucher is repaid via a salary sacrifice with your employer each month. Depending on your tax band (Higher Rate Payer or Lower Rate Payer), you’ll save either 32% or 42% on the cost of the package.
Because the salary sacrifice period is independent of the hire period, depending on your employer, you can normally choose 6, 12, 18 or 24 month periods. So you can afford to buy a high quality e-Bike designed for the riggers of commuting such as the Haibike Trekking or Cross range.
Government Backed Scheme
Green Commute Initiative is the industry-leading and award-winning cycle-to-work scheme with no limits. GCI’s scheme has no £1,000 limit and no scheme exit fees. You can save from 32-47% (depending on your tax rate). Pay monthly through salary sacrifice with no added interest. Salary sacrifice periods can be from 12-60 months. Get an E-bike or conventional cycle through GCI and help reduce congestion and pollution whilst improving your health, fitness and mental wellbeing.
Calculate your savings
Use the simple calculator below to work out how much you can save using the Cycle2Work scheme.