Cycle to work details - Bristol Bicycles

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% admin fee.

We can also accept vouchers from most popular cycle scheme providers – see the list

Example Savings

For a basic rate taxpayer using the Green Commute Initiative^*:

Normal price of bike	£415
plus cycle to work scheme fee^:	+ £22
plus end-of-hire fee^*:	+ £1
minus your tax savings:	– £140
Total cost	= £298
net monthly salary sacrifice:	£25 (over 12 months)
saving compared to normal price:	28%

*Only available if your employer is signed up to one of the above schemes. The exact saving varies depending on your level of income tax and National Insurance, the end-of-hire fee, and exactly how your employer administers the scheme, please contact your employer for details.

** All third party cycle scheme providers charge a fee which we add to the price of the bike and accessories. However, the tax savings available more than compensate for this cost – see the above example. Most schemes charge a 10% fee. The Halfords Cycle2Work, FairCare and SMEHCI fees are 15% so we recommend using a different scheme if you have the choice. The Green Commute Initiative’s fee is only 5%, so we recommend using them if your employer is able to do so. If you would like to avoid the fees altogether, just ask your employer to set up an internal Cycle to Work scheme – see above.

*** Most employers have to charge an end-of-hire fee to transfer the ownership of the bike into your name once your monthly payments have finished. The older the bike the lower this fee, so we suggest deferring this payment for 3 years. For example, see www.cyclescheme.co.uk/help/endo-of-hire-process-video