Up to 50% off the retail price of a new bike for cycling to work
This has been posted before but thought it was time for a refresh on a great deal!
Cycle to Work is a tax incentive aimed at encouraging employees to, er, cycle to work, thereby reducing air pollution and improving their health.
The scheme allows employees to benefit from a long term loan of bikes and commuting equipment such as lights, locks and panniers completely tax free.
Employers benefit from fitter, more punctual, more wide-awake staff. Employees benefit from better health and better bikes because their money goes further. With a budget of, say £400, an employee in the high tax-band can now afford a bike, plus accessories, worth nearly £800.
The typical saving for an average tax-payer is between 38-45 per cent. There are online calculators to help you see how much you may be able to save. This one is from Cyclescheme. Type in your salary, the cost of your new bike and the cost of accessories such as a helmet, lock, panniers and so forth.
All Comments (46)
Jump to unread Post a CommentAnother plug for [url]www.wiggle.co.uk[/url] (twice in one day!) really helped me with sorting out bikes
Here's their page on this : http://www.wiggle.co.uk/CustomerServices/cycle2work.aspx
p.s. will someone please give me some rep for this post as I normally post ice-cold deals!
:cry:
Ebay is a great place for second hand bikes if you know your stuff. Just search for ones in your area to save on postage and so you can check it out.
Ebay is a great place for second hand bikes if you know your stuff. Just search for ones in your area to save on postage and so you can check it out.
not true about only for halfords. any decent bike shop will do it. the link above your post shows wiggle do it
www.cycle2work.info is Halford's version.
As mentioned above, http://www.wiggle.co.uk/CustomerServices/cycle2work.aspx is Wiggle's one.
Chainreaction's at http://www.chainreactioncycles.com/Information.aspx?TranslationLargeID=34
I'm not sure if you're able to run it without reference to these organisations. I believe you can however - it's effectively just an arrangement between you and your employer.
Unlikely, it seems as if there are nigh on zero check and balances on this scheme.
Spudgun, I was under the impression that the only proviso was that the bikes 'main' use would be to and from work.
This was in an effort to stop people just buying for home use, not that anyone would check.
It didnt mention that you had to bike every work trip with it.
As long as you use the bike for commuting more than you use it for personal use (i.e. 51% of the time) then its allowable.
However there are no checks and you aren't required to keep reccords so i'm sure you'll be ok.
M
It was 5 weeks ago, and it only shows on an advanced search.
I think its worth a mention, considering its such a good deal when measured against many others posted here.
So a student trying to buy the same bike as a millionaire needs to pay twice as much.
And to think the government cannot understand why the rich get richer and the poor get poorer?
Get a Life!
This site is about 'hot deals' is it not? This deal is hot (50% off)!
It may well have been posted before (not recently), it's nice to have a reminder for newer members who may not want to trawl through dozens of pages.
Voted hot
Could anybody shed some light on this??
So a student trying to buy the same bike as a millionaire needs to pay twice as much.
And to think the government cannot understand why the rich get richer and the poor get poorer?
Yay a small tax rebate for the worker !!:p
Could anybody shed some light on this??
I believe its the same as our recently finished computer scheme.
A £1000 computer had a £50 final payment.
I think this is set by the employer ????
I have a company car and was a litlle concerned that I would not be eligible, but no probs....
Only reason I couldn't go for it is that I live 20 miles from work - would be a stretch saying I did that twice a day! Especially if you ever met me....Lance Armstrong I ain't! :)