A bicycle and cycling equipment at half price - thanks to the Government!

The Government Cycle to Work Scheme is an initiative which has been devised to help employees buy bicycles tax free, saving between 46 and 52% of the value of the bicycle.

Employers make savings on National Insurance contributions and experience reduced levels of staff sick leave. With the help of Bikedock, an experienced scheme facilitator, the scheme is very simple to implement.

The Cycle to Work scheme, part of “The Green Transport Plan”, brings substantial tax benefits to both employers and employees.

The Scheme is very simple to adopt and this is how it works:

• The employee chooses a bike and any accessories at Bikedock.
• These are then purchased by the employer.
• The employer claims back the VAT as a business purchase.
• The amount after VAT is then deducted from gross salaries over 12 months – effectively interest free to the employee.
• At the end of the 12 months, the employer has the option to sell the bicycle to the employee, for a fair market price (approximately 3.5% of the initial price of the bike).

Find out how you can benefit as an employer or as an employee, as well as how much you can save under the scheme.

More information about the scheme can be found on the Department for Transport Website.