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Welcome

Who’s it for? Want to take part? Great! If you’ve received this mag from your employer then they’re probably already running a scheme, so things should be straightforward. There are some limits as to who can take advantage of the tax breaks, though. The most important ones are: You need to be a UK taxpayer via the PAYE system If your earnings are equivalent to the national minimum/living wage, you may be able to benefit from a discount as part of a special arrangement with your employer If your employer is not signed up, invite them here: http://cycsch.me/invite-emp

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About

Cyclescheme... Cyclescheme helps you save money on a new bike for work. Get on board and save at least 25% on your next bike! Cyclescheme offers big savings on the best bikes and kit. Dealing with Cyclescheme’s network of over 2,000 retailers gives you the widest choice of equipment. It's also the most convenient, easy and enjoyable way of getting a new bike or accessories for cycling to work.

T

he Cycle to Work scheme allows you to save money on the cost of a new bike and accessories through a

simple salary sacrifice arrangement with your employer. The way it works is simple – you give up part of your salary and receive an equivalent benefit that is exempt from Income Tax and National Insurance (NI). What does this mean in practice? Well, technically it’s your employer who buys the bike. You then hire the bike and accessories from your employer, and pay back the cost of the bike from your gross salary (before tax). Once you have saved your tax and NI and paid our low end of hire fee, savings are at least 25%. Cyclescheme works with over 2,000 retailers across the UK, giving you access to a massive amount

of choice and expert advice on equipment selection. To locate your local store, or to browse the online options available to you, head to http://cycsch.me/retail. Cyclescheme runs schemes with a number of companies including the BBC, Google, Rolls-Royce, Tesco and Jaguar Land Rover, as well as scores of police forces, councils, universities, blue-chip companies, and many government departments too. So come on in, put your feet up, and let us give you a guided tour of the bikes, the accessories, and the savings that are on offer when you join Cyclescheme. Happy cycling! www.cyclescheme.co.uk

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