A Government backed scheme that lets employees get a new bike for travelling to work
The ever increasing cost of travel, is making cycling to work more popular than ever before. This Government backed scheme lets employees get a new bike for cycling to work, and because they pay for it through a salary sacrifice arrangement, employees can make significant savings in income tax and National Insurance. Your employees could save up to 42% on the cost of a bike and cycling safety accessories through reduced tax and NI. And as an employer, you will also save money on your NI contributions too.
Benefits of the bike scheme
The Bike scheme or Cycle to Work scheme as is it also called, really appeals to staff looking to reduce their travelling costs and to get fit at the same time. So, you get a healthier and happier workforce along with company savings too.