Cycle to Work Scheme | CycleScheme | WorkRiders | Cycle-Plus | Bike2Work Scheme Green Commute Initiative Cycle Solutions save £’s
How you can save up to 47% on a new bicycle courtesy of the Government!
Here’s how it’s done. . .
- Your employer signs up with one of the Government’s cycle to work scheme providers or creates their own scheme. Island Bikes has partnered with Cyclescheme, Cycle-Plus, Bike2Work scheme, Workriders, Cycle Solutions and the brilliant new Green Commute Initiative.
- If your employer is partnered with Halfords Cycle2work scheme, you can still buy your bike from us, no extra effort for you as we do all the paperwork.
- You select the bicycle you want, along with any safety equipment you need.
- Your employer approves the purchase.
- You get the bicycle, you then pay for the bicycle out of your salary over a number of months.
- The government writes off a load of tax that you would normally pay saving you up to 42% or 47% off the normal price.
Contact us for more information on the schemes available.
It’s easy to get your company on-board
If your employer isn’t currently signed up to one of the schemes then we recommend that they talk to us, cycleplus, WorkRiders (see below), Bike2Work scheme, Cycle Scheme or Green Commute Initiative.
We recommend Green Commute Initiative for strong reasons:
No £1,000 limit
No end of scheme fees
Larger benefits to employees (save up to 42% on over £1,000)
Larger benefits to employers (they save 13.8% NI)
Can include ebikes
Green Commute Initiative is leading the industry with its cycle-to-work scheme with no limits. GCI scheme participants benefit from no £1,000 spending cap and no scheme exit fees. Save up to 47%, depending on your tax bracket. Pay monthly through salary sacrifice with no added interest. Get an E-bike or conventional bike and help reduce congestion and pollution whilst improving your health, fitness and mental wellbeing.
Cyclescheme pride themselves in giving you the best service available with the minimum of administration. The scheme is run in strict accordance to the government’s green travel plan and conforms to the requirements of the HMRC, OFT and DfT. They also provide hire agreements for employees and a free secure website for voucher processing. Their extranet site is password protected and enables you to manage employees’ applications with the click of a mouse.
Cyclescheme are very pleased to help with all the information you will need on one of the best government tax breaks so far. Cyclescheme run the scheme and the company has to be on board with the scheme before any employee can get a bicycle and equipment up to £1000. This is because the scheme can only run through what is known as a salary sacrifice, where wages are temporarily reduced to pay for the hire of goods – in this case a bicycle and equipment. The scheme is available to UK tax payers who pay PAYE. Please note that self-employed cannot take part in the scheme.
Come in and pick up a leaflet to take to your company, or pop in for a chat to find out more about Cyclescheme, WorkRiders or one of the other schemes.
We now accept HALFORDS vouchers
If you wish to purchase a quality, performance bike from the great brands we stock but you only have access to the Halfords Cycle to Work scheme then don’t worry. You can now request that your Halfords Cycle to Work voucher is changed to be able to be redeemed at islandbikes.net Call the Halfords team on 08450 778835 and they will arrange this switch for you.
ACT support Cycling to Work is a UK Government tax incentive programme targeted at encouraging employees to keep fit, help the environment and save money in the process.
The programme allows employees to benefit from the long term loan of a bicycle and commuting equipment such as lights, locks and panniers, tax free.
Employers can loan bicycles to their staff as a tax-free benefit on the condition that the bicycles are mainly used to get to and from work or for work-related purposes.
What is WorkRiders?
WorkRiders is a new approach to cycling to work. It is a simple, easy to use web based solution providing employees with an easy, tax efficient route to start cycling to work with the help of their local independent retailer ie Island Bikes!.
WorkRiders is the only cycling to work provider endorsed by the Association of Cycle Traders, the only organisation dedicated to specialist cycle retailing.
Why Choose WorkRiders?
● Access WorkRiders Authorised Retailers across the UK making it easier for you to find a local retailer
● Get expert advice from specialist independent cycle retailers
● With the WorkRiders Payment Card you can ride your bike away the same day – no vouchers, no quotes, no delays
● Completely online for quick, simple registration and purchase
● Choose from all products within the store, including promotional and clearance goods
WorkRiders benefits for employees
● Huge savings on the cost of a new bike and accessories
● The cheapest route for employees to start cycling to work
● Immediate purchase and collection of goods
● Choice of any goods in store, irrespective of price and retail promotions
● Biggest choice of quality products from shops nationwide
● Improve health and wellbeing
● Be environmentally friendly
WorkRiders benefits for employers
● A cost free employee benefit
● Reduced administration with the streamlined online system
● Happier, healthier, more productive staff
Where can I get a bike through the WorkRiders programme?
WorkRiders Authorised Retailers are a national network of specialist cycle dealers who can supply employees with any bicycle and range of safety accessories to get you cycling to work.
WorkRiders Authorised Retailers accept the WorkRiders unique payment card, allowing immediate purchase and collection of any bicycle and safety equipment available in store, including
Why Cycle to Work?
Rising petrol prices and stressful traffic jams should be enough to push you in the direction of cycling, but if your still lacking motivation to get on the saddle then here are a few more benefits of cycling to work.
For your wallet…
● WorkRiders is tax free, salary sacrifice is taken off before tax deductions meaning you save the tax and National Insurance on the hire amount
● Avoid petrol costs
● Avoid public transport costs
For the environment…
● Reduce your CO2 emissions
● Reduce traffic congestion
For your health…
● Burn calories and build muscle
● Get fitter
● Feel more alert
● Boost your metabolism and immune system
● Lower stress levels by avoiding traffic
Not only is cycling a great mode of transport but it’s great fun too. Why not ride into work with friends and colleagues to make the morning commute that bit more enjoyable?