As an employer, if you join a scheme called Cyclescheme, your staff can benefit from huge savings on bikes. The employer buys a bike that the employee has chosen from an independent shop. Part of the employees gross salary is used to fund it and at the end of the hire period, the employee can pay a fair market value for the bike (around 5% typically) and the bike’s theirs. The savings come from reduced VAT, income tax and National Insurance – however these savings do vary according to the employees personal taxation rate. For more details, visit www.cyclescheme.co.uk

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This web-site was last updated on 24/03/2011

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