What is the cycle to work scheme?
The cycle to work scheme is an employee benefit that enables working adults to save 25-39% (often more) on the cost of a bike and/or cycling accessories. You can calculate your potential savings here.
The savings are generated by employees paying for their bike and/or accessories from their pre-tax salary (i.e. before tax is assessed or deducted). Obtaining the bike in this way reduces employees' taxable income and creates a tax saving. This mechanism for generating tax savings is known as a 'salary sacrifice'.
Tax is complicated, Cyclescheme is not.
You choose a bike, hire it for an agreed length of time, then snap it up for a fraction of its original value. It's like a year-round sale, with interest-free credit available in over 2,000 retailers nationwide.
You can search Cyclescheme's retailers using Cyclescheme's retailer finder tool.
You can check your forecast savings using Cyclescheme's calculator.