Register your company for the Cycle to Work Scheme today
Register your company for the Cycle to Work Scheme today Sign Up Here
With over 40,000 employers signed up to the Cycle to Work Scheme in the UK, it has helped more than 1.6 million commuters ride their way to work. There are also tons of benefits to you as an employer. If you’re interested in signing your organisation up to the Cycle to Work Scheme, find out about keeping your company fully HMRC compliant below.
Through the scheme, you, as an employer, essentially obtain the goods acquired by an employee. Your employee then pays for their bike and / or accessories with monthly payments deducted from their monthly salary (also known as ‘salary sacrifice’) over a time period decided by you. Your employees’ payments are tax free, and your National Insurance contributions are reduced by up to 13.8%!
See all the benefits
Signing up with a Cycle to Work Scheme provider makes it easy to administer the benefit to your organisation, as we help to:
At Cycle Solutions, we also partner with major employee benefit providers, often used by organisations as an incentive scheme, should you prefer to use this method to distribute the Cycle to Work scheme.
When an employee obtains their goods through Cycle to Work, a ‘salary sacrifice’ contract is signed between them and you, the employer. This contract must comply with HMRC rules, which is why working with a scheme provider, such as Cycle Solutions, helps to ensure you and your business remain fully compliant and within your custom scheme parameters.
As Cycle to Work Scheme members themselves, both HMRC and the Government Department for Transport have also signed up with Cycle Solutions to implement their Cycle to Work Scheme, where we administer the following to assure complete compliance:
We create unique webpages for your employees that are specific to your organisation. This means only applicable bikes and / or accessories can be selected, and employees cannot veer from the limits of their scheme.
At the end of the scheme, we manage how the remaining cost is transferred, with an extended hire agreement option that is completely free of charge.
We help to organise salary sacrifice calculations and deductions, allowing you to relax knowing it is all taken care of.
To find out more about how we ensure full compliance, get in touch today.
There aren’t any significant restrictions to registering your business for the Cycle to Work Scheme, and you can have any number of employees across the private, public and voluntary sectors. The only limitation is that if you are a self-employed individual, you won’t be able to apply.
To start the application process, request a call back below and we’ll be in touch shortly.