“I have the sexiest bike in my whole department and made a massive saving!"
Alan, Company Director
Cycle AT WORK™ is an HMRC approved scheme set up to encourage employees to cycle to work and reduce their CO2 emissions. Through the scheme, each employee can hire a bicycle and related safety equipment from their employer free from income tax and National Insurance Contributions (NIC). Employers save NIC for each participating employee. Employees can choose any bicycle and related safety equipment from the wide section on offer.
What's in it for you?
- Save 12.8% NIC (and 15% VAT)
- Help reduce carbon emissions and improve your company’s carbon footprint
- Increased external and internal brand value by demonstrating awareness of your Corporate Social Responsibility and environmental policies
- Increase productivity (people in ‘good health’ are up to 20% more productive than those in ‘poor health’)
What's in it for your people?
- Basic-rate income tax payers save on average £155* a year (higher-rate taxpayers save on average £205* a year)
- Save VAT (if passed back to employee)
- Reduce their carbon emissions and improve their carbon footprint
- Get fit and healthy for less
* Based on a one-year repayment plan and the average cost of a bike and related safety equipment being £500.