Cycle to work scheme

Within the Government's Green Transport Plan, there is a tax exemption which allows employees to provide cycles and safety equipment to employees as a tax-free benefit.

As an employer, you will purchase the bicycles and equipment and your employees will hire the cycles from you. A monthly deduction is collected via salary sacrifice with employees purchasing the cycle for a fair market value at the end of the period.

You will not only provide an additional benefit to your employees by enabling them to purchase cheaper cycles, you will also benefit from National Insurance savings on the salary your employees sacrifice.

The benefits

• Brighter, fitter, more punctual employees
• Enhanced benefits package promotes employee loyalty
• Liberated car parking spaces
• Reduced organisational carbon footprint