About Cyclescheme
Cyclescheme: The Ultimate Employee Benefit for Cycling Enthusiasts
Cycling is a great way to stay fit, save money, and reduce your carbon footprint. However, not everyone has the means or motivation to cycle regularly. That's where Cyclescheme comes in - a revolutionary employee benefit that makes cycling accessible and affordable for everyone.
At its core, Cyclescheme is a tax-efficient scheme that allows employees to purchase bikes and accessories through their employer at discounted rates. By spreading the cost over 12 months via salary sacrifice, employees can save up to 39% on the cost of their bike and accessories while also reducing their taxable income.
But Cyclescheme isn't just about saving money - it's about promoting healthy lifestyles and sustainable transportation options. By incentivizing cycling through this employee benefit program, employers can improve staff morale, productivity, and overall well-being.
So how does Cyclescheme work? It's simple - employers sign up for the program and offer it as an optional benefit to their staff. Employees then choose a bike from one of over 2,000 participating retailers across the UK (including Halfords), select any necessary accessories such as helmets or locks, and apply online through Cyclescheme's easy-to-use platform.
Once approved by their employer's HR department (which typically takes less than two weeks), employees receive an eCertificate which they can redeem at their chosen retailer in exchange for their new bike and accessories. The cost is then deducted from their pre-tax salary over 12 months via salary sacrifice.
But what if you already have a bike? No problem - Cyclescheme also offers "Own Your Cycle" options which allow employees to purchase bikes they already own from their employer at fair market value after six months of use.
Overall, Cyclescheme is an innovative solution that benefits both employers and employees alike. Employers can attract top talent by offering this unique perk while also improving staff retention and engagement. Employees can save money, improve their health, and reduce their environmental impact by cycling to work.
So why not join the thousands of companies across the UK who have already signed up for Cyclescheme? It's a low effort, high impact employee benefit that truly makes a difference.
cyclescheme.co.uk
