The Cycle to Work Scheme is one of the most popular employee benefits in the UK. Over one and a half million people make use of the scheme, which was introduced by the government in 1999.
Employers can save nearly half of the cost of a bicycle and equipment, while employers benefit from National Insurance savings too.
With so many things going for it, the scheme is certainly one for employers to shout about to their staff. And this September gives you the perfect chance to do just that, with the arrival of Cycle September.
What is Cycle September?
Cycle September is a fun and friendly biking challenge sponsored by Cycle Scheme and its outreach arm, Love to Ride. Your staff can participate for free and join thousands of other workers across the UK building a healthy ’cycle to work’ habit.
People can participate by riding anywhere, any time during the month of September. If you have employees who regularly cycle in to work, they can take the lead and set up a workplace team that wins points by encouraging new riders or logging miles.
Your business’s team can compete against other similar-sized businesses and organisations, via leaderboards on the Love to Ride website. It’s a wonderful team-building exercise that creates healthy habits at the same time, and these can last way beyond September.
In addition to the health boosts, potential savings and environmental benefits, there are some great prizes on offer for taking part in Cycle September, including an e-bike and a £4,000 holiday.
How can people get involved?
Anyone who wants to sign up for Cycle September can head over to the Love to Ride site and click on the Sign Up Now button.
Love to Ride isn’t just for September either. Staff can track their bike miles all year, see their carbon savings, set goals, and find tips and support to ride more often. There’s also an active Love to Ride community that posts stories and photos.
Love to Ride has a new iOS app, with an Android app coming soon. You can log in online with Strava if you’re already committed to tracking your miles there.
Can I buy an e-bike on the Cycle Scheme?
Many people who already have a bike are tempted to invest separately in an e-bike, especially for commuting to work.
Decent e-bikes usually cost more than £1,000, so employees can get them via the scheme if their employer has set the limit above £1,000.
You can get all the details you need about buying an e-bike on the Cycle to Work Scheme here.
How much does the scheme save?
The Cycle to Work scheme enables employees to buy a bike for commuting and make savings of up to 47%. The employer effectively buys the bike and hires it back to the employee, who then repays their employer over 12 months.
The employee also saves on transport costs, parking, fuel, and wear and tear on their car. And they also get fitter and healthier, and contribute towards the reduction of carbon emissions if they normally drive to work.
There are savings for employers too. Companies save employers NI, so for every £1,000 the company spends on bikes, it saves £138 in NI.
There’s no cost to your business to implement the scheme. Enjoy Benefits undertakes all of the administration of the scheme to ensure it remains HMRC compliant.
In addition to monetary savings, the Cycle to Work Scheme is a real contribution to corporate social responsibilities, and it also reduces pressure on car parks, roads and the environment.
Cycling to work – find out more
You can get further details about the Cycle to Work scheme on our website – Cycle to Work benefit.
It’s been used by more than 1.6 million commuters working for 40,000 different employers since 1999 to ‘promote healthier journeys to work and reduce environmental pollution’.
If you’re not already part of the scheme, you can add it to your employee benefits now and launch it in time for Cycle September.
Get in touch with us today about the Cycle to Work scheme.
About Us
At Enjoy Benefits, we have great experience in helping companies of all sizes introduce benefits that are suitable for their workplace.
Benefits are easy to set up and ongoing administration is then run through a hub, allowing employees to manage their own benefits while the employer can see which benefits are proving popular and what level of take-up each has had.
If you would like an obligation-free chat to discuss which benefits might work for your business and your employees, please contact us by calling 0800 088 7315 or using our Contact Form.
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