Cycle to work scheme

Cycle To Work Scheme

So Cycle in cooperation with Cyclesheme.co.uk offers Cycle To Work scheme for bicycle and accessories purchases.

Save up to 45% on the bicycle price together with accessories when purchased via Cycle To Work Scheme.

  • Massive Saving on a bicycle
  • Pay Trough your salary
  • Choose any type of bike
  • Purchase with accessories
  • Collect in So Cycle Shop

To get more information visit So Cycle shop or call us on: 028 855 48289.

Cycle To Work Scheme

More about Cycle To work Scheme:

Cyclescheme enables your employees to get a bike tax-free, saving on average about half the cost. It's completely free to join, and easy to administer online.

How Cyclescheme works

You sign up with Cyclescheme; you're given access to our online system.

Employees visit one of over 1,850 participating bike shops to select the bike and equipment that they want; they will be given a paper quote. They use Cyclescheme's online tool and apply for their chosen package by entering the details online and requesting a Certificate.

Once an employee has requested a Certificate, you can confirm eligibility and approve the request. Cyclescheme will send you an invoice for the bike package, and a Hire Agreement is sent to the employee to sign.

As soon as the bike is paid for, the Certificate is sent to the employee.

The employee contacts their chosen bike shop to arrange collection.

The balance of the bike is deducted via salary sacrifice. At the end of the hire period, the employee pays a Market Value payment to make the bike theirs.

Is it a Government Scheme?

Yes. Within the Government’s Green Transport Plan, there’s a tax exemption which allows employers to provide cycles and safety equipment to employees as a tax-free benefit. Technically speaking, employees actually hire the bicycles from you, buying them at the end of the salary sacrifice period for a Fair Market Value payment. Cyclescheme will collect this Fair Market Value payment for you, and we can also offer highly competitive finance packages from well known providers.

The employer buys the bikes and safety accessories at full retail price. The balance is recovered from a reduction in the employee’s gross salary, and employers also benefit from National Insurance contribution savings. The net result? You save money on every bike you process through the scheme!