Transfer your scheme

If you suffer from

High costs

Low employment take up

Poor service

Lack of service

It may be time to change your scheme provider

Contact Cobens for more information info@cobens.co.uk or 0845 013 7050

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Cycle To Work Scheme Calculator

Example of Cycle to work scheme savings

Example Employer Savings

Company Size	10,000 people
Take up	5%
Average Equipment Cost	£600.00
*VAT Registered employers NI Saving**	£32,680
*Non-VAT Registered employers NI Saving**	£38,400

Employee savings for a company where VAT is paid (most companies pay VAT)

Retail Price	£200	£600	£1,000
Basic Rate Taxpayer 20% Tax, 11% National Insurance
VAT* saving	£29.79	£89.36	£148.93
Income Tax and NI saved	£53.91	£161.74	£269.57
Net monthly payments	£10.00	£30.00	£50.00
Total cost of bike package	£120.00	£360.00	£600.00
Higher Rate Taxpayer 40% Tax, 1% National Insurance
VAT* saving	£29.79	£89.36	£148.93
Income Tax and NI saved	£71.30	£213.91	£356.52
Net monthly payments	£8.55	£25.65	£42.75
Total cost of bike package	£102.61	£307.83	£513.05

Employee savings where VAT is not paid

Retail Price	£200	£600	£1,000
Basic Rate Taxpayer 20% Tax, 11% National Insurance
Income Tax and NI saved	£62.00	£186.00	£310.00
Net monthly payments	£11.50	£34.50	£57.50
Total cost of bike package	£138.00	£414.00	£690.00
Higher Rate Taxpayer 40% Tax, 1% National Insurance
Income Tax and NI saved	£82.00	£246.00	£410.00
Net monthly payments	£9.83	£29.50	£49.16
Total cost of bike package	£117.96	£354.00	£590.00

Notes

1. *Vat at 17.5%
2. At the end of the hire period, under a separate agreement, the ownership may be transferred to the hirer for a fair market value payment
3. Savings will be affected by your personal level of taxation

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