Cycle to Work Schemes
At Future Bikes we're committed to promoting sustainable transportation options and helping you make eco-friendly choices while enjoying the benefits of cycling.
We partner with Cycle to Work and Cycle Solutions in order to offer customers the option to purchase a bike, clothing or accessories and save over 40% in many cases. It’s a fantastic initiative and an integral part of the UK Government's Green Transport initiative.
What is a Cycle to Work Scheme?
The Cycle to Work Scheme is a government-led initiative aimed at encouraging more people to cycle to work. It allows employees to obtain a bike and cycling accessories through their employer while saving money on the cost. The scheme operates through a salary sacrifice arrangement, which means you can pay for your chosen bike and accessories through deductions from your gross salary, making it a tax-efficient way to purchase a bike.
How Does it Work?
- Chat with us about selecting the ideal bike for you: Browse our wide selection of bikes and cycling accessories in store or on our website and choose the ones that suit your needs and preferences.
- Get pricing: Once you've selected your desired items, we'll provide you with all the necessary cost details, along with the make and model of the bike. You'll need to apply for a voucher.
- Submit to Your Employer: Present the quote to your employer, who will then handle the paperwork and set up the salary sacrifice arrangement. If your employer has not yet enroled on a scheme, you can ask them to sign up - it doesn't cost them a penny.
- Receive Your Bike: Once everything is approved, you can visit Future Bikes to collect or we can deliver it to you. Get ready to hit the road, enjoy your commute and save money by spreading the cost through a salary sacrifice plan.
Q: How much can I save?
A: How much you save will depend on your own tax status. Generally a basic rate taxpayer will save 30% and a higher rate taxpayer 42%.
Q: How much can I spend through the Cycle to Work Scheme?
A: The amount you can spend varies depending on your employer's specific scheme.
Q: What does my employer need to do to participate?
A: Your employer or HR department will need to register with a participating provider. They'll then handle the administration, including setting up the salary sacrifice arrangement and providing employees with the necessary paperwork.
Q: Can I use the scheme more than once?
A: You may be able to use the scheme on more than one occasion, but it’s best to check with your employer to see if they allow multiple applications.
And that's it!
Embrace the Cycle to Work scheme today and start enjoying the many benefits of cycling while reducing your carbon footprint and promoting a healthier lifestyle. If you have any further questions or would like assistance in choosing the perfect bike for you, don't hesitate to contact us.
Happy cycling!