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Cycle2Work is an easy and cost-effective way to positively engage with your employees
- Make commuting cheaper, healthier and more environmentally friendly for your employees
- Benefit from improved employee wellbeing and reduced National Insurance contributions
Cycle to work is a Government initiative introduced in 1999 to encourage cycling as a means of transport to work. All public, private and third sector employers can run a cycle to work scheme and all employees in an organisation can hire bicycles and safety equipment through the scheme.
Cycle2Work means employees can save up to 32% on the cost of a new bike and accessories if used primarily for commuting.
It’s really straightforward: The employees choose the bike and accessories and you recoup the bike cost though employee salary sacrifice (a monthly deduction from gross salary for the duration of the Hire Period). The employee spreads the cost and makes savings on their tax contributions; 32% for standard rate tax payers and 42% for higher rate tax payers. As an employer, you make a 13.8% saving through National Insurance Contributions.
It’s quick and easy to run
Cycle2Work offers unbeatable commercials alongside simple, speedy online processes that maximise choice for the employee and minimise effort for the employer. We don’t charge for managing the scheme and provide full support to scheme administrators.
Contact us to find out more or sign up today.
I'm an employee
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I'm an employer
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