The Cycle to Work scheme has helped over 900 employees save up to 32% of the cost of buying a bike since it launched 10 years ago.
Operating as a salary sacrifice scheme, Cycle to Work allows you to lease a bike – including e-bikes - over the period of a year, paying 12 equal payments to cover the cost.
At the end of the hire period you can either enter a zero-cost extended hire arrangement, purchase the bike at the fair market value at that time (plus VAT), or return the bike to a Halfords store.
The scheme re-opens on 13th September so watch this space!
Charge and Go - Marlene chose an electric bike
Marlene Neil, assistant cook at St Frances PS used the scheme earlier this year to buy her first bike! She lives near the school and was driving back and forward each day but knew it was time for a change.
“The cost of my car and weekly fuel costs were quite high and it seemed silly to be spending so much when I live so close to work so I took the plunge and applied to the Cycle to Work scheme. I chose an electric bike which is fantastic and allows me the choice to peddle on the flat but flick the switch to zoom up hills!
“Applying to the scheme was straight forward and I had my voucher within two days. You really don’t notice the monthly deduction as it comes straight out of my salary. I got rid of my car which is saving me so much money each month and I use the bike to go to the supermarket and other shops.”
Marlene is totally committed to cycling to work and goes above and beyond the 50% requirement by cycling to work five days a week!