Cycle to work schemes
If your employer offers a Cycle to Work Scheme, you are eligible for savings on our complete range of adult bikes, clothing, components and accessories.
By joining a Cycle to Work Scheme you can save hundreds of £££’s, and spread the cost interest-free through your salary. Plus, cycling to work will bring health benefits and help you save money on your daily commuting costs. You can also use your new cycling kit for leisure riding too.
Why cycle to work?
You’ll have your own reasons for wanting to cycle to work, but there are probably more benefits than you realise. Here are just some of them:
- A healthier you – both in mind and body
- Reaching your fitness goals more quickly
- A happier you as you become healthier and fitter
- Enjoying your commute to work so you arrive on time and feeling energised
- Becoming more effective in your work
- Saving money on fuel and car parking costs
- Reducing the environmetnal impact of your journeys.
- Reducing congestion
Schemes we accept
If your employer offers any of the schemes below, then you can get your new bike and kit from RM Cycles. Our Approved Used, Ex-Demo, Ex-Display, and Discounted bikes are also available on cycle scheme. please get in touch for more information-call 01580 765612 or email cyclescheme@rmcycles.co.uk
How does the scheme work?
The bike and equipment are leased to you, your employer will deduct monthly ‘salary sacrifice’ amounts from your gross salary to recover the cost. Salary sacrifice means giving up part of your salary in exchange for a benefit, in this case a bicycle and /or cycling safety accessories.
Because the deductions are from gross salary it means you pay less tax and NI, which is how the savings are made. Depending on how much tax you pay and which scheme your employer offers, you can typically save 32%-49% on a bike of your choice and/or safety accessories.
You can use the bike for either your full journey to/from work or part-journey, e.g. to/from the station. You can also use the bike for leisure cycling.
For example if you salary sacrificed £700 for your new bike and cycling kit, the monthly deductions from your gross pay would be £58.33. That’s £700 divided by 12 months. As your gross pay has reduced by £700 you won’t pay tax or national insurance on that amount. So if you were a basic rate tax payer the real total cost to you would be £476, which is a saving of £224 or 32%. Higher rate tax payers will save even more.