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What Is Cycle to Work?

Cycle to Work is a government backed salary sacrifice scheme available to PAYE employees in the UK. It is aimed at making cycling more affordable and accessible for commuters and leisure riders. It's a simple process to complete, which will help you save up to 42% on a brand new bike and cycling accessories!

A change in legislation has now removed the £1,000 limit under the Governments Cycle to Work initiative meaning that your employer can apply for a higher or even unlimited Cycle to Work limit. This now means you can get an ebike to make your commute easier, reducing effort on the hills, and arrive at work quicker and more relaxed!

What Cycle To Work Vouchers Do Leisure Lakes Bikes Accept?

FAQ's

How does the Cycle to Work scheme work?

Cycle to Work is a salary sacrifice scheme, this means that your bike and equipment is deducted from your salary as a non cash benefit so you save on tax and national insurance. The hire period is usually 12 or 18 months with your payments taken from your salary before tax deductions. You don't pay tax on your payments and so save 32% or 42% ( depending on which tax band you fall into). Although your employer technically owns the bike through the 'hire period', the bike is yours to use how you like. At the end of the hire period, you can take ownership of the bike by paying a fee based on 'fair market value'.

* Please note: there is no guarantee that your employer will transfer ownership to you at the end of the hire period. Usually employers are happy to do this, but you should check with your HR department to be sure.

What Cycle accessories can I get?

With Cycle to Work you can get any cycle accessory, helping make your ride a better one! For example, you could choose any;

  • Safety Accessories that keep the bike and yourself safe e.g. Helmet, Bike Lights, Locks, Mirrors, Bell...
  • Essentials for cycle commuting. E.g. Clothing and Shoes, Panniers, Backpacks, Child Seat...
  • Components and Parts that keep your bike in top condition e.g. Cycle Tool Kit, Puncture Repair Kits, Chainset, Chain...

Please note there are a few exceptions when choosing accessories, please enquire with our Sales team if you're unsure!

Can I reserve my chosen items whilst I wait for my voucher?

You can reserve your items, by paying a small refundable deposit (£50) either over the phone with your local store, physically in store or through our mail order hotline if you are looking to get your order delivered.

Which Cycle to Work vouchers do you accept?

We currently accept the following Cycle To Work Vouchers:

Can't find your scheme on the list? Get in contact with our Cycle to Work hotline on 01772 644 340 for further assistance!

Can I choose sale bikes and accessories on the scheme?

Yes! However please be aware that a 10% surcharge is added to sale items purchased through cycle to work scheme.

How do I purchase an E bike over £1,000?

Electric bikes are becoming more popular particularly with commuters as they are green, easy to ride and cheap to run. Most ebikes cost more than £1,000, meaning that the recent legislation changes to remove the £1,000 spending limit is great news. This means you'll be able to purchase any e-bike on your Cycle to Work scheme, provided your employer hasn't set a spending limit.

If they have set a limit, we have partnered with the Green Commute Initiative, which is a scheme without a limit, and has normal or ebikes available on the scheme. Want to know more? Call us on 01772 644 340

How does the scheme end?

Although your employer technically owns the bike through the 'hire period' it is your to use how you like. At the end of the hire period you can take ownership of the bike and pay a fee based on 'fair market value'

* Please note: there is no guarantee that your employer will transfer ownership to you at the end of the hire period. Usually employers are happy to do this, but you should check with your HR department to be sure.

What happens if I change my mind?

After signing the hire agreement, you have a 14 day cooling off period if you change your mind. After that the hire agreement with your employer cannot be cancelled.

What happens if I leave my employer?

If you leave your employer before you have completed the salary sacrifice term, any balance remaining must be repaid from your final net salary, i.e. without tax/NI savings. To take ownership of the bike a transfer of ownership process will also apply within the HMRC Fair Market Valuation guidelines. Your employer should be able to advise you on the correct transfer option.

Can I top up the amount I spend with my own funds?

The amount of money you spend must not be more than the amount of your cycle to work voucher. Of course, you can always buy extra cycling equipment in a separate order.

Do I need to insure my Cycle to Work scheme bike?

We highly recommend you insure your bike as soon as possible. If your bike is stolen or damaged beyond repair, you'll continue to make your monthly payments until it has been paid for. You are responsible for insuring your Cycle to Work bike as you are the person who is responsible for it. For more information on Cycle insurance, visit our Cycleplan page!

My Employer Hasn't Set Up a Cycle To Work Scheme, Can I Still Apply?

If your organisation hasn't yet set up a Cycle To Work scheme, please speak to your HR department, they should be able to set this up for your company. If they need any help, we can provide the information your employer needs to get things set-up! The Schemes we usually recommend are the Green Commute Initiative, Cyclescheme, or our own Leisure Lakes Bikes Cycle To Work scheme.

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