Cycle to Work

Pedal Power

We’ve partnered with member organisation Cycles UK to give all Bira members a special discount on bikes under the Cycle to Work Scheme.

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Just some of the benefits of the Cycle to Work Scheme:

It’s the healthy option for travelling to and from work
Cycling helps reduce environmental pollution
Chance to purchase a great bike and safety equipment for a great price
Tax exemption initiative
As a bira member you’ll receive at least 30% off the cost of a bike and safety equipment

Launched as part of the 1999 Finance Act, the Cycle to Work Scheme was introduced to promote healthier journeys to work and to reduce pollution. The Act also saw the introduction of an annual tax exemption, which allowed employers to hire out cycles and the cyclists’ safety equipment to employees as a tax-free benefit.

How the scheme works

The employer buys a bicycle and safety equipment, then enters into a hire agreement with the employee to lease the cycle for a period of 12 or 18 months. Over this time the employee actually pays back the value of the cycle and safety equipment through the PAYE system, and this is where the savings are made for both parties.

The tax exemption allows the employer to deduct the monthly hire payments for the cycle and safety equipment from the gross salary of the employee through a salary sacrifice scheme. The employee saves money as they pay less Income Tax and National Insurance Contributions (NICs), due to them paying for the hire of the cycle and safety equipment through the salary sacrifice scheme.

The employer will save on Secondary Class 1 NICs due to paying lower gross salaries to employees.

Once the agreement is up, the employee can choose to purchase the cycle and safety equipment at a ‘fair market value’ from the employer.

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Why choose to run a cycle to work scheme?

Allow employees to get a bike tax-free, with most people saving at least 32% off the RRP and some will save 42%.
Provide employees with an extra benefit during a time when pay rises are hard to give.
Provide NICs savings to the company when using the salary sacrifice option.
Promote healthier lifestyles amongst the workforce and the productivity benefits that this can bring.
Promote environmentally friendly methods of transport to work.

Why choose Cycles UK to provide your scheme?

Up to 10% discount available on all bikes and equipment by cutting out the middle-man. We supply the bikes and the equipment so can pass savings directly to the employee or employer.
Fast turn-around throughout all the steps required to get your employees a bike.
We can go from the quotation stage to sending the bike on the same day if stock availability allows.
Specialist knowledge across our Stores and Head Office support team. Not just on the Cycle to Work Scheme but also bikes, equipment, repairs and services.
14 local stores to browse your bike and complete the Cycle to Work Scheme quote.
Ability to submit quote online and redeem an online voucher if we do not have a store near you. The quotation webpage can be branded to suit your company requirements and pre-populated with company information for a simpler process.
Direct contact to a support link at our Head Office who will help you with any issues and questions that you have at any point of the processes.

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