Juicy Bike

cyclescheme

TAX FREE ELECTRIC BIKES

WHAT IS CYCLESCHEME?

The Cycle to Work scheme is designed to help you save money on a new work bike and spread the cost over tax-free monthly instalments. Cyclescheme has also lifted the £1000 cap on purchasing an Ebike through the scheme, meaning you can now complete your commute on any of our Juicy or Neomouv range without working up a sweat.

 

HOW DOES THE SCHEME WORK?

Cyclescheme has a straightforward process:

  • Your workplace registers with Cyclescheme
  • You ask us for a quote for the bike and equipment
  • Your employer pays for it
  • You pay your employer back through monthly instalments taken through payroll.

 

Salary sacrifice periods are for a minimum of 12 months (but can be for longer), and your employer can advise on the spending limit.

Find out how much you could save, head to: https://www.cyclescheme.co.uk/how-it-works#what-is-it


 
HOW DOES THE TAX FREE BIT WORK?

Monthly payments are taken from your gross salary before any tax is deducted. You will then only pay tax and NI on the remainder of your pay after taking the monthly instalment.

This means that an average basic-rate tax-payer can save up to 32% of the total cost of the bike when the scheme is over, and even more for higher rate ones. And you’ll have spread the cost into interest-free, manageable monthly payments too.

The scheme is easy to access and won’t take up much administration time for your employer. There’s a financial benefit for your employer too.
They end up paying less employer national insurance contribution, so they save about 13% on the cost of the bike.

Not to mention them getting a healthier, happier, more productive staff member who doesn’t need a parking space.


 

Ask your employer if they’re already signed up. If not, suggest they register with Cyclescheme.

 Contact us