The scheme has been launched by the Government to encourage people to use bicycles, especially to and from work. You can use the bicycle for anything you like but at least 50% of the bicycles usgae must be for work purposes. This will include commuting (i.e. all or part of the journey, e.g. cycling to the train station qualifies) from your home to your workplace, or from one workplace to another. You are not required to keep any record of your usage however the organisation is required by HMRC to make it clear that if you do not use the bicycle in this way then you may lose the benfit of the tax relief.
This is a salary sacrifice scheme open to all University staff, to help you have a cheaper, more sustainable commute. You give up part of your salary in order to have the use of a new bike up to the value of £1000. In doing so, you'll make savings by paying less tax and National Insurance contributions.
For example someone on a salary under £50,000 buying a bike costing £500, could save over £200.
You can sign up to the scheme at any time. The rental period will last for 12 months and will require you to make regular monthly deductions from your salary via the payroll.
All applications are subject to approval by the University's Payroll department. This is because staff who have irregular hours, earnings that fall below the national minimum wage or a fixed term contract of less than 6 months, will need to be enrolled in an alternative scheme. If this is the case, you will be contacted by Cycle Solutions with details.
If you have any questions about the scheme that are not answered by the FAQ please get in contact with Cycle Solutions directly.
You can place your order online or by telephone. Cycle Solutions will then contact you to ensure the bike and equipment you ordered is suitable for your needs.
Please be aware that your additional scheme discount is not valid on local bike shop orders nor on items that are already on sale greater than or equal to 12%.