Cycle to Work
Get your team on their bikes to improve their physical health, emotional wellbeing and finances.
What is the Cycle to Work Scheme?
The Cycle to Work scheme is an initiative that benefits both you and your workforce.
For your employees, there is an opportunity to get a brand new bike and cycling equipment for their commute to work.
Amongst other benefits for you and your business, there are fantastic savings through lowered rates of National Insurance contributions (NIC).
The scheme aims to make travel affordable and enjoyable, improve health for the individual and impact all of society with lower congestion and better air quality, creating vibrant, attractive places and communities.
Why use our Cycle to Work scheme?
Our Cycle to Work provider holds the largest stock of bikes and equipment to offer your employees through the scheme. 98% of brands in the UK market are available from its network of hundreds of independent bike shops.
Delivered by the nation’s number-one Cycle to Work provider for 4 years straight and recommended by 93% of its clients, Cycle to Work has loads to offer:
Team benefits
Save money & time for your workforce with reduced costs of up to 47%* in cycling equipment and a fast, stress-free commute to look forward to. (*savings dependent on the tax band)
Business benefits
The scheme, available on our easy-to-use online platform, is zero-cost and even reduces your business costs through reduced NIC.
Attract the best
Attract, engage and retain top candidates with our Cycle to Work benefit so you can build a really great team.
High productivity
With your top team healthy, they are well-placed to have great job satisfaction and thrive in the workplace
Why launch a Cycle to Work scheme?
Getting your people on their bikes will ensure they are at their best – physically and mentally, whilst also doing their best for the planet.
The rush hour: every commuter’s nightmare. Worse than the never-ending cacophony of horns and engines is the cost of the fuel that gets burned as your polluting engine idles at every traffic light and junction.
The alternative, cycling to work, is not only the greenest way to travel, but the only fuel it requires is your choice of breakfast.
With the constant development of the cycle lane network in the UK, it has never been easier to beat the queues and arrive stress-free and on time to work every morning.
Cycling is also a great form of exercise, helping commuters achieve the recommended WHO target for adults: 150-300 minutes of moderate-intensity physical activity a week for adults.
However, purchasing a bike can be a high one-off cost that some employees struggle to afford. This restricts many employees, stopping them from having the assurance that a cost-effective bike affords – getting to work hassle-free.
We have the perfect solution with our Cycle to Work scheme, offered by the UK’s number one, market-leading provider.
Download Factsheet
Help and support
Our team is on hand to make this entire process simple and to talk to you through setting up, advertising, and managing your scheme.
We are able to help educate your staff on the benefits of the scheme, as well as explain how to access information about their account.
All our benefits are available through our digital online platform, Smart Hive.
To see how it works and to get your questions answered, book a demo with a consultant.
Interested in this benefit?
Our team are always on hand to answer any questions you may have about the Cycle to Work scheme.
FAQs
We want you to have the simplest, easiest experience possible when choosing the right employee benefits. But we know you might have a few questions. Read on for more information here. If you still have questions, talk to us.
Provide transportation to work
Ensure your team has access to free transportation.
Invest in your team
Provide access to healthy activities.
Support the environment
Contribute to your company’s environmental policy.
To benefit from the scheme employees agree to a salary sacrifice over 12 to 18 months benefiting from not only a bike and cycling equipment but also less tax and NICs. Whilst your employees will choose and apply for their bike and equipment, you, as the employer, control the value you would like to offer to your team and are in charge of approving their application. The financial benefit to your business is savings of up to 15% on NICs.
It depends. All lenders are different and assess mortgage applicants differently. Lots of lenders care more about gross annual income and applicants’ debt/income ratio rather than a salary sacrifce arrangement when assessing mortgage requests. But, some employees may find it more difficult to get a mortgage, as certain lenders will take into account the reduced salary when assessing affordability.
Not only is the cycle to work scheme free it can also save up to 15% on employer’s NI contributions.