Cycle to work scheme
The cycle to work scheme is a government tax incentive aimed at encouraging employees to cycle to work, thereby reducing air pollution and improving their general health. The scheme is already in operation. It allows employees to benefit from a long term loan of a bike and cycle safety equipment such as lights, locks and panniers completely tax free.
Employees can receive a certificate for a value up to £1000 to purchase a bicycle and cycle safety equipment. They then pay off the total value monthly through a salary sacrifice scheme. Most people save around 32% off the cost of a new bike and equipment.
Your employer may already be part of a cycle to work scheme, if not you can always invite them to join. Any employer can set up their own cycle to work scheme. For more information visit https://www.gov.uk/government/publications/cycle-to-work-scheme-implementation-guidance
You can find additional information on cycle to work schemes at http://www.bikehub.co.uk/featured-articles/cycle-to-work-scheme/
Last Updated: 30 November 2017