- Cycle to Work
Cycle to Work scheme at Skatehut
WHY CYCLE TO WORK SCHEME?
Save money & spread the cost on a new bike and accessories.
Cycle to Work is a government backed salary sacrifice scheme that, depending on your tax band, means you can save up to 43% on the cost of your bike! As the scheme is based on a salary sacrifice, it means the bike cost is deducted from your gross salary, meaning that you save on tax and national insurance. Your employer buys the bike for you - and you are then renting it for 12 months. Although your employer owns the bike, its yours to do what you like (maybe check if wheelies are allowed). Once the 12 month period is over you can either hand it back, pay a small HMRC-set fee to keep the bike or (and this is the most popular) pay a 3% deposit and extend for another 36 months, but with no monthly payments!
Check that your Employer is signed up to the www.cyclescheme.co.uk Cycle to Work scheme.
If they aren’t, ask them! It’s quick and easy.
Go to www.skatehut.co.uk and choose any adult bike (including e-bikes!)
along with any safety gear and bike accessories you wish to purchase.
As soon as you know what are spending, simply apply through the cyclescheme website,
this will alert your employer’s payroll department and you are then issued with a certificate.
Contact us on email@example.com with your certificate number plus your redemption code and tell us what you want, we’ll send you your new gear or you can collect from one of our stores.
The rubbish bit but hey - you are saving a load of cash and paying monthly!