Government pledges ongoing support for the Cycle to Work Scheme
Posted - March 16, 2016
Following the presentation of the 2016 Budget the Cycle to Work Scheme has once again been supported by the Government as a key health benefit for employers to offer employees across the UK.
The Chancellor of the Exchequer stated:“(The) Government’s intention is that pension saving, childcare and health-related benefits such as Cycle to Work should continue to benefit from income tax and NICs relief when provided through salary sacrifice arrangements.”
The decision that the scheme remains untouched is a clear statement of support for the positive impact that the Cycle to Work Scheme continues to have for employees throughout the UK, fundamentally helping people improve their health and wellbeing and achieve a more active lifestyle.
The ongoing support is a boost to businesses as well as the employees, with the scheme providing substantial NIC savings for organisations who choose to implement an effective scheme.
This latest Budget gives a firm footing to what was already one of the most popular UK workplace benefits and we at Cycle Solutions look forward to helping more and more people achieve a healthy active lifestyle.