To promote healthier journeys to work and to reduce environmental pollution the Government introduced the Cycle To Work scheme as a tax-exempt employee benefit, operated predominantly through the salary sacrifice mechanism, which provides an affordable and cost-efficient way to encourage individuals to take-up cycling.
The Cycle to work Scheme encourages employers to loan bicycles and cycling safety equipment to employees for the purposes of cycling to, from and at work and allows employers to reap the benefits of a healthier workforce.
The cost savings for UK employees purchasing a Bicycle up to £1000 is that they save the Income Tax and NI, which can be between 32% to 42% dependent on their PAYE Tax Bracket.
OCC now have access to a Cycle to Work Scheme which does not have any limit. Its called the Green Commute Initiative. Call us for more details on this scheme
Dependent on the individual employer, Saftey equipment such as listed below is often also eligible.
Oakham Cycle Centre can help with advice, schemes and purchases and is involved with three of the main scheme providers.
Additional useful further information can be found at :