Up to 50% off the retail price of a new bike for cycling to work
It's been over 7 months since this was last heated so time to give all those new to HUKD a heads up:
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.
It's worth badgering your HR department if your company currently doesn't operate the cycle2work scheme. It is your entitlement as a taxpayer to participate so give em' some grief!
Why not consider supporting Sustrans - the charity behind the national cycle network, with the money you save on this deal and help to them to continue their good work helping people to get back on their bikes across the UK
More: Bikeforall dealsTags: bike to work, cycle, bike, cycling, cycle equipment (Add a tag)
All Comments (62)
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:thumbsup:
Superb deal.
worth a reminder though.
I mailed my boss and will find out tomorrow.
didnt know about this.
:thumbsup:
Superb deal.
cant go wrong
guess you have to have somebody in personnel who rides a bike or they dont give a *****.
ps the bike is the company's till its all paid off and you can only use it to and from work :whistling:
On this scheme you have to pay for the bike at the end of the year in order to own the bicycle. How is that cost calculated? What does it work out as.
From what I gather, the scheme only saves you the money you offset from your income tax. You seem to pay almost the retail price for the bike.
Unfortunately that also depends on your employer. It doesn't cost them a thing, better still, they can even save money on National Insurance taxes, and the paperwork is all done for them. Still, I yet have to convince my employer... Been working on it for over a year now, and got about 10 colleagues that declared themselves interested and we also have the support of aNewWayToWork.org (part of TfL) but they wouldn't hear us...
So good luck to you all, and of course, voted hot!
Suppose it's only right - them being the NHS.... :whistling:
:p
too busy printing the redundancy letters....:whistling:
:-D