- For most purchases we recommend you ask your employer to set up an internal Cycle to Work Scheme for your workplace. It is simple, free, and avoids paying any fees.
- For purchases over £1,000 we recommend the Green Commute Initiative because unlike other schemes they have no £1,000 limit, they can offer finance to the employer to cover the cost of the bike, and they only charge a 5% commission fee.
- We can also accept vouchers from many popular cycle scheme providers – see the list. They charge a commission between 10% and 15%, and we cannot afford to absorb this cost for you – if we did we would make a loss on the sale. (We do not make any extra money on the purchase, the fee simply covers the commission that these companies charge us).
For a basic rate taxpayer using the Green Commute Initiative*:
|Normal price of bike||£500|
|plus cycle to work scheme fee**:||+ £25|
|plus end-of-hire fee***:||+ £1|
|minus your tax savings:||– £169|
|Total cost||= £357|
|net monthly salary sacrifice:||£29.75 (over 12 months)|
|saving compared to normal price:||28%|