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Save money with Cyclescheme


Get your Cyclescheme Package

With your application approved and paid for (by your employer), it’s time to exchange your Certificate for your Cyclescheme package. Contact your retailer and arrange a time to pop in and pick up your equipment. If you shopped online, your package can be delivered to an address that suits you, or you can opt for the click-and-collect service that some retailers offer. Your salary sacrifice and Hire Agreement now kicks in. For the next 12 months, you’ll pay a set amount from your salary each month in exchange for the hire of your Cyclescheme package from your employer. The deduction is made from your gross salary, so you make income tax and national insurance savings (32% standard rate, 42% higher rate).


Transfer of ownership

When the Hire Agreement and salary sacrifice ends, you can keep your Cyclescheme package by making a final payment. Extended Use Agreement (EUA)



Values under £500

Values over £500

It's a small amount, however. For a package under £500, you'll pay 3% of the original value; for a package over £500, it's 7% – so a maximum of £70 on a £1,000 package. The bike remains ‘hired’ for a further 36 months, but with no more monthly payments. Ownership can then be officially transferred to you at no extra cost. The transfer of ownership payment is why you save a minimum of 25% rather than a minimum of 32%. Many Cyclescheme participants will save more. For a personalised savings figure, visit and enter your details. Still have questions? We’re here to help! Contact us on, or visit the FAQs on our website

Quick-fire questions How much will I save with Cyclescheme? At least 25%, all in with no extras. If you are a higher rate taxpayer, you save at least 35%. What can I obtain through the scheme? Almost any item you need to cycle to work. Obviously the bike, but also accessories such as lights, locks, helmet and clothing. If you already have a bike, you can even just apply for the accessories. How is my salary sacrifice calculated? By dividing the total Cyclescheme package price by the length of your Hire Agreement. Usually, this means 12 payments taken from your salary, over a 12-month period. What’s a Cyclescheme eCertificate? A voucher. It’s what you give to the bike retailer in exchange for your chosen bike and equipment. We send you this by email. I’ve paid for the bike, why don’t I own it? Simple answer: tax. In order to protect your income tax and national insurance savings, an additional ‘transfer of ownership’ fee needs to be paid. This is explained below. How is the transfer of ownership payment calculated? There is a set percentage applied, depending on the age of your bike package. At 4 years old, the value is set at 3% (original value less than £500) or 7% (more than £500). What’s a Hire Agreement? This is an agreement between you and your employer. It states you will be hiring the equipment from them during the period of your salary sacrifice.


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