cyclescheme Deals & Sales for 2016 - HotUKDeals
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cyclescheme Deals & Discounts

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save up to 42% off a new bike tax free. pay monthly. cycle to work scheme. cyclescheme.co.uk

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Ordered a new bike with lights and bike lock should cost instore £884 after the discount £601. Which works out about £50 a month for me .directly out of my wages before it goes into my bank account.
welche2 Avatar2y, 6m agoFound 2 years, 6 months ago9 Comments
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my employer refuses to join this scheme
I get a new bike every three years through this scheme, going to get my 3rd one in December. Works out ~30% cheaper because of the tax and NI savings, and if you time it right you can buy a bike in the Evans sale thereby saving even more moeney.
Know a bloke at work who fell foul of this after buying a Brompton and suffering from an undisclosed term about them on our company's scheme relating to the final payment value. As they don't depreciate much at all they asked for a further payment making it the same as if he'd bought the bike upfront himself. Because of vague nature of the contract he still doesn't know if he owns it! :-(
hi andyh68, Do you remember the website address you bought your bike from please? I am after a road bike but they are so expensive! thanks
not good if you dont actually own the bike even at the end of a yrs lease, better off finding an on line retailer who does factory seconds, I bought a mountain bike 2yrs ago for £45 still boxed
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180Expired

Buy a bike tax free with Cyclescheme

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With Cyclescheme, you can get a bike tax-free, which for most people means they save about 32% of the cost. You can get just about any bike you like from a local bike shop, and it's good for your heal…
markpj777 Avatar2y, 10m agoFound 2 years, 10 months ago43 Comments
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Just received this via email:

I can advise you that unfortunately some stores do not allow Cyclescheme participants to obtain sale bikes through the scheme due to the 10% commission charge paid to Cyclescheme. However, I can advise you that this is not all stores and in fact Evans Cycles honours all sale prices.

So I'm gonna have a look at Evans I guess!
Unless you are a high earner of course, as the repayment at the end is not linked to your tax saving. The rich get richer....
Sadly sat chef is spot on. The scheme used to be good, but is nowhere near that now. Buying in a sale or negotiating 10 pct discount will airways be better and fast less stress than this scheme. It's a real shame. I've been following this for years trying to work out whether it can actually work in favour but the sheer number of unknown quantities make this a real gamble, usually not in the punters favour.
vns146
SAVINGS CAN BE MORE, DEPENDING ON YOUR TAX BRACKET.

32% based on lower rate payer
42% based on higher.

After 12 months, Cyclescheme calculate the 'market value' of the bike to be 35% of the purchase price. If you want to keep the bike then you must pay this figure. As such, higher rate tax payers only save 7% versus buying the bike outright, while lower rate taxpayers actually pay 3% MORE than the purchase price of the bike.

Cyclescheme are absolutely raking it in. They buy a bike VAT free and loan it to you for £X/month, taken from your pre-tax wages. Over the course of the year this nets them a tidy profit. They then make further money by selling the bike on for around 35% of the purchase price. From my quick calculations, their revenue should be something like 44p in the pound from lower rate tax payers, simply for administering this scheme. That income comes directly from tax payers and the person taking up the scheme (who saves little if anything at all by using it).

The scheme (when administered by Cyclescheme) is a con. At the end of the hire period they have your nuts in a vice and they make sure you know it.



Edited By: satchef1 on Feb 03, 2014 10:31: blah
Didn't save me anything. Something like £45/month salary sacrifice for a Specialized Rockhopper and helmet (£749 total). After 12 months my employer transferred ownership to Cyclescheme who asked me for something like £250 for the bike ('market value'). If I didn't want to pay this, I could return it to Milton Keynes at my own expense, or I could pay £50 to rent for another three years (at the end of that period I get a choice between paying market value or returning the bike to MK). Felt ripped off tbh, but the bike shop did warn me it wasn't a great deal and that I could get a better deal buying cash (or on a CC) or a similar deal on interest free credit.

Unfortunately I drank the Cyclescheme koolaid. I believed the scheme would save me a lot of money on the back of stories about employers transferring ownership for nominal amounts.
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Cyclescheme, save up to 42% on bikes with your work.

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Just discovered this with my office. Basically if your office has signed up to the 'Cyclescheme' then you can save up to 42% on a new bike. Your office can sign up easily via: https://www.cycles…
marinogeorge Avatar3y, 2m agoFound 3 years, 2 months ago29 Comments
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It has been around for years and years, sadly the company I work for stopped it a couple of years ago after a slight change in the rules. I work for a large company in Yorkshire with loads of people that would jump at the chance to take advanage of this scheme. If your company does it, you are lucky and I would take advantage of this if you can.

I cycle regular, and would never buy a bike from Halfords anyway. If you are going to use this scheme, I would advise you to go to a small or independent cycle shop.

The thing that can put people of cycling is an ill fitted bike and poor equipment. A small shop will help you pick the best bike for you, and your needs and get the right equipment.
marinogeorge
ChrisDye
Yes it is accurate. Everyone needs to understand the scheme that is being offered by their own employer. I was clearly referring to a 12 month scheme, in which case what I have said is correct. Not all employers use a scheme that allows the final payment to be deferred. One also needs to understand what happens if one leaves early.
I've used this scheme in two different workplaces, both operated in slightly different ways, due to the change in Government policy. There is no 12 month scheme to the best of my knowledge, following the policy change.I'm not convinced the employer decides on whether there is a final payment or not. Leaving early is obviously going to incur a penalty.
As of today I got a 12 month scheme.[/quote]
You will make payments for 12 months, but ownership of the bike will not pass to you until the end of the 3rd year.

I may be wrong, but I believe you'll still make the payment at the end of the 12 months. The payment will effectively be a rental payment for the next 2 years. At the end of the 3rd year, ownership will be transferred to you.
Where I work a use a company called Cycle Solutions. They offer a 18 month scheme. The liver you hire the bike for the cheaper the final payment. You will save money on any bike or accessories but the savings will vary with age of equipment.

You don't have to buy a bike. You can just buy qualifying accessories. There is a minimum spend though. Great if you have a bike but need a decent lock, lights, waterproofs etc.

Although your employer technically owns your bike until you make the final payment, employers ruin the scheme with the intention of selling you the bike at the end. Your employer doesn't wants lots of second hand bikes to deal with.

Or scheme provider doesn't even all for a deposit at the end of the 18 month payment period. You can continue to hire the bike for a further 4 years and can ask for a valuation at any time.
I've looked into these schemes and while they look good, they only benefit full time employees. I have dithered on whether or not to go for one, yet as I only work 20 hours and therefore don't pay tax or n.i, I can't go for it. They're alright for some, but id still prefer to go for a reduced, last year's bike now. Each to their own though:-)
ChrisDye
Yes it is accurate. Everyone needs to understand the scheme that is being offered by their own employer. I was clearly referring to a 12 month scheme, in which case what I have said is correct. Not all employers use a scheme that allows the final payment to be deferred. One also needs to understand what happens if one leaves early.

I've used this scheme in two different workplaces, both operated in slightly different ways, due to the change in Government policy.
There is no 12 month scheme to the best of my knowledge, following the policy change.

I'm not convinced the employer decides on whether there is a final payment or not. Leaving early is obviously going to incur a penalty.[/quote]
As of today I got a 12 month scheme.
612Expired

Free LIME Energy Saving Plug AND Water Widget

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These two green gadgets are completely free (one per household). Lets make this HOT so people find out about it and lower their energy usage for free! The LIME Energy Saving Plug has been offered as f…
hotdeals Avatar6y, 2m agoFound 6 years, 2 months ago50 Comments
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**************** WARNING *****************

based on the previous post I would not use this socket, you'll either damage your equipment or get electricuted.
Just to warn people that I just received this by email

"Product Recall Notice – Lime Energy Saving Plug (Model ES1017)

I am writing to inform you that we have found a potential safety
problem with a batch of the Lime Energy Saving Plugs, Model Number
ES1017, which can be identified via the label on the back of the plug.
This email will be followed with a letter, which you should receive
in the next few days.

The problem was identified following feedback from a very small number
of customers who had experienced some problems with the individual
pins of the plug that either fell out or remained in the socket when
unplugged.

This problem could potentially lead to an electrical hazard or
exposure to live electrical parts. I strongly recommend that you stop
using the Lime Plug and turn off the wall socket power switch before
removing it.

We will be sending you a replacement Lime Energy Saving Plug of a
different model to replace your existing one and will endeavour to
send this to you within 14 days from the postal notification that you
will receive shortly. Along with the replacement plug we will include
pre-paid packaging for you to return the original plug for its safe
disposal.

I would like to reassure you that no other Grass Roots products are affected.

If you have passed this plug on to someone else, please would you also
pass on this notice.

I apologise for any inconvenience caused and thank you for your
co-operation in this matter. If you require further advice, please
contact our helpline on 08448 – 795160 or alternatively contact us by
email on [email protected].

Yours sincerely

Mr Antony Bates
Executive Director"
wolverine2031
mine never arrived so cold..


mine arrived, but i still have not used it, saving the planet lmao

the offer is still going, i just ordered one for my uncle.
mine never arrived so cold..
I got mine yesterday. was easy to fit.
The stand by socket is a very cool idea and looks like a good make.

Really pleased with the shower water widget. esp as I really loved my shower and was worried that the stream will suffer. It didnt have any adverse effect. makes a bit of noise as it it clear it works by sucking air in, but I cant bear that for a more efficient shower.
474Expired

Save up to 50% off a new bike with a cycle to work scheme

61
This has been posted a number of times, but I thought I would post again as I am about to get my bike through one of these schemes and people may be thinking about cycling to work in the spring/summer…
Goldeneye243 Avatar7y, 7m agoFound 7 years, 7 months ago61 Comments
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Duggie_22;6692149
- Does it fit you?

- Have you ridden it (and I mean a proper test ride, not a potter around the car park)?

- Is it the right bike to do the job?

- Does the dealer have a good reputation for build quality, servicing and after sales support?

if you can't answer all of those questions with an absolute YES, then it really isn't a bargain.


Obviously yes to the first three, but I think halfords are crap. Having said that, they'd be much easier to deal with seeing that they ave loads of stores around the UK.
my-planet;6686212
http://www.hotukdeals.com/item/503591/carrera-vengeance-disc-ltd-was-529-
If you can find me a better value for money bike, please post a link. Thx.


- Does it fit you?

- Have you ridden it (and I mean a proper test ride, not a potter around the car park)?

- Is it the right bike to do the job?

- Does the dealer have a good reputation for build quality, servicing and after sales support?

if you can't answer all of those questions with an absolute YES, then it really isn't a bargain.
The only trouble is that it's not the best machine for cycling to work on! I'd prefer something with road tyres, mudguards, conventional forks and a rack.
Duggie_22;6679521
...I can't see how it's a pity that you can't use the voucher in Hellfrauds!

http://www.hotukdeals.com/item/503591/carrera-vengeance-disc-ltd-was-529-
If you can find me a better value for money bike, please post a link. Thx.
my-planet;6629489
Pity Cyclescheme.co.uk don't work with halford or decathlon.

Question (I know I'm being lazy): does the bike count as a taxable benefit?


Not sure on the tax front - pretty sure it doesn't incur any kind of BIK tax.

From personal experience and just looking at the thread above, I can't see how it's a pity that you can't use the voucher in Hellfrauds! There are loads of proper bike shops that will help you find the right bike and assemble it properly instead.

hurdy
I think its a condition of the warranty that you take it back for the six week check - thats what they told me last year when I bought a bike for my littl'un


It won't affect your warranty - as members of the Asociation of Cycle Traders (ACT) they have to offer it and it's advisable that you follow it up as, due to cable stretch, you gears WILL require attention early in the bike's lifetime.

The warranty stands as long as the bike is fully assembled prior to sale and was done by a competent person. I'll let you draw your own conlcusions about whether you feel Halfords are competent...

Most manufacturers will not offer warranty support if the bike was sold in a box and some simply do not permit their dealers to sell bikes in this state.
230Expired

Get a Tax Free Bike for Work through your Employer

41
from site "Get a tax free bike! Cyclescheme is working with a network of independent bike shops to supply the nation with quality tax free bikes and equipment for work. We have a wealth of experienc…
bogeyman Avatar8y, 9m agoFound 8 years, 9 months ago41 Comments
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To answer some of the questions about the scheme.

You can have more than one bike on the scheme provided it can be justified. One for winter use and one for summer, One to ride to the station and one from the other end to work etc. The bike(s) must be suitable for the commute to work so a downhill or BMX would not normally qualify, nor would a kids 20".

You cannot add any of your own money to the scheme voucher. This is a HMRC rule and any supplier allowing this could find themselves in trouble with the tax man.

Plus, as the previous poster said, salary sacrifice can affect your pension and benefits.
You need to be cautious about all salary sacrifice schemes if you are likely to change your job, get sacked, retire, take maternity or sick leave within 2 years of the end of you paying off your bike/computer/child care etc... as it means that your salary for calculation of benefits (e.g. pension, maternity leave, sick pay) is reduced by the amount taken out for the bike,etc... can end up being a pricey mistake.
If you have no intention of any of the above - then you'll be fine.
does anyone have suggestions for bikes/makes etc? want something that can be used a bit on roads as well as off-road - aka mountain biking type terrain. makes and models would be appreciated.
great deal i work for a Jap carmaker in the north east and they introduced it last year.
£30a month then they discount my NI contributions works out around £22 for a £600 bike.
If you get a chance go for it.
http://www.cyclescheme.co.uk/:thumbsup:
Noticed a reply from one of you saying you were limited to a choice of a junk Halfords bike or one from a really expensive shop.
Halfords will get you ANY BIKE YOU WANT whether they stock it or not under this scheme & have it delivered to your local store, just ask your employer to contact the people who do the scheme with your choice of bike.

Not all Halfords bikes are junk btw, the budget bikes are pretty bad (you get what you pay for!) but their Carerra brand is very good value for money.

I am very into cycling but passed up on the scheme this year as I really don't need another bike due to me already having pretty much my dream bike/s, someone I work with bought a KOXX trials bike frame with other high spec individual parts & built a fully custom bike. If for example you wanted a bike that's only imported & sold by one shop in the UK you can still get it sent to Halfords (e.g. a Focus imported by wiggle.com).
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