Bike for less – Bike2Work
Bike2Work offers you a bike for less through a governmental scheme where you save on tax and national insurance deduction. Depend on your salary (lower tax payer, higher tax payer) you can save up to 32% or 42% and spreading the cost over 12 months (salary sacrifice).
Bike 2 Work scheme makes it simple for Employers and Employees to take full advantage of the Government approved Cycle to Work scheme, providing all necessary paperwork and promotional materials completely free of charge.
All company Employees can get bike for less, providing that they are UK taxpayers via the PAYE system and over 16 years of age. Earnings must remain above the level of national minimum wage after the salary sacrifice has been deducted. Employees under the age of 18 would need a guarantor to be able to participate. Self-employed individuals are not permitted to take part in the scheme.
To get bike for less you can spend between £1 – £1,000. If you wish to purchase items over the £1,000 limit you will need to add your own money to the order, however, this will not form part of your salary sacrifice. All equipment will remain the property of your Employer during the hire agreement, regardless if you have added your own money.
It’s not just a bike!
You can get more than one bike on the scheme and safety equipment which includes:
Cycle helmets which conform to European standard EN 1078.
Bells and bulb horns Lights, including dynamo packs.
Mirrors and mudguards to ensure riders visibility is not impaired.
Cycle clips and dress guards Panniers.
Luggage carriers and straps to allow luggage to be safely carried.
Child safety seats.
Locks and chains to ensure cycle can be safely secured.
Pumps, puncture repair kits, cycle tool kits and tyre sealant to allow for minor repairs.
Reflective clothing along with white front reflectors and spoke reflectors.