Cyclescheme is one of the several companies administering the Government’s ‘Cycle to Work Scheme’. In a nutshell, Cyclescheme allows you to get up to £1,000 worth of bike and accessories through your employer. You then pay a monthly ‘salary sacrifice’ to effectively ‘hire’ the bike and kit, over a 12 month period.
Tax is complicated; the cycle to work scheme 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.
If you’re an employer, no matter what the size of your company from one employee upwards, you can sign up to the scheme here.