Cycle To Work Scheme
Offering employees the cycle to work scheme enables them to get a quality, reliable bike at a significantly reduced cost.

How does the salary sacrifice cycle to work scheme work?

  • Employees are able to obtain cycles and safety equipment from the employer, saving the TAX and NI on the salary sacrifice amount
  • Employees can access online, specialist local AND national cycle retailers such as Evans or Halfords
  • The employer purchases the cycle and safety equipment and hires the cycle to the employee  over a specified period*, employees may be given an option to retain the cycle at the end of the hire period
  • Enjoy Benefits Ltd undertakes all the administration
  • Many cycle retailers can hold on-site roadshows to promote the scheme to employees

How will this benefit my business?

  • 13.8 pence saving for each £1 of salary sacrificed on cycles, on average around £83 per cycle up to a maximum of £138 per cycle and is unaffected by the changes to salary sacrifice schemes in April 2017
  • Healthier fitter employees supporting wider employee wellbeing.
  • Cycling is eco-friendly and keeps the organisation’s carbon footprint low. 
  • By fulfilling your corporate social responsibility your organisation will benefit from a positive public perception

How will this benefit my employees?

  • Encourage a healthier fitter lifestyle.
  • You save Tax and NI on your repayments, being either 32%, 42% or 47%**
  • Huge range of cycles and retailers to choose from.
  • Can include safety equipment in with the cost.
  • Incredibly tangible employee benefit.
  • No credit checks

 How much does it cost my business?

  • No cost to the business to implement.
  • The cost of the cycle*** quickly recouped through Salary Sacrifice and savings in Class 1 NI
  • Call now for a free consultation even if you have a scheme in place

* Should the employee leave before the end of the agreement the balance needs to be settled from net pay

** This varies dependant on Tax and NI level and may be subject to a Fair Market Value payment

*** Consumer Credit Licence is required for total value of equipment per employee to exceed £1000

Register now - no obligation

Attract and retain the best employees by helping them choose the cycle to work scheme...
Register here to make a start

Need some help to get started with the cycle to work scheme?

If there is anything you do not understand, let us help and advise you, it is really simple
Let us know who you are and we will phone you back