Electric Bike / Cycle To Work Schemes
The Department for Transport has just brought clarity to a long standing confusion around the cycle to work rules. The £1000 limit no longer applies! Hurrah! Now employers and bike shops everywhere can help you to save up to 47% on the full value of your bike and accessories.
Not to boast (may be just a little:-) but we've been offering e Bikes via our eBike cycle to work scheme in conjunction with the Green Commute Initiative for several years now. Just one way we've been able to offer our customers better service than regular bike shops. There are many many ways we offer more so be sure you give us a call with your eBike query.
Our stores accept most Cycle to Work schemes and we can provide your quote in a few minutes.
Our favourite scheme is still the social enterprise - Green Commute Initiative. They helped us to provide the first e-Bike to work scheme and we are happy to recommend them knowing that you'll get the best possible deal. Your employer can use them on a regular or one off basis, there's no sign up and each application takes about 5-10 minutes to complete from start to contracts being printed.
Just some of the reasons why we love The Green Commute Initiative (GCI):
- -Social Responsibilty - Much like ourselves, their vision is to get as many people out of their cars on to a bicycle improving health and well-being and reduce pollution and cut congestion. Their profits go back into helping more people get into cycling.
- -Not for Profit - GCI is also the only scheme set up as a not-for-profit social enterprise, their charter prevents them from getting into debt. so, can never have creditors and cannot become bankrupt. This means the ebikes are completly safe and will always end up with the customer. No other scheme currently offers this promise.
- -Member of the APPCG - GCI is an Associate Member of The All-Party Parliamentary Cycling Group whose goal is to open up cycling to more people in the UK, and get people on their bikes more often. They use their influence as Parliamentarians to promote all forms of cycling.
- -City of London’s Best Practice Guide - Green Commute Initiative was the only cycle-to-work scheme to be included in the best practice guide. The Active City Network aims to make walking and cycling in the Square Mile safer and more comfortable.
- -FCA Authorised - The only cycle-to-work scheme provider authorised and regulated by the Financial Conduct Authority with no hidden clauses or any unfair Ts&Cs.
- -No Sting - Unlike other cycle schemes which charge up to 7% of the full value of the bike. GCI offers a free of charge loan after the inital hire period ensuring you get the full tax-break from the HMRC. Under a separate agreement, the ownership title is passed on to you for £1 (The £1 protects you from any possible future claims from the HMRC).
As another little incentive, your bike package can include accessories such as helmets, bells, lights, reflective clothing, child safety seats, tools and spares.
How do I save money on the e-Bike?
Payments for your new electric bike will be deducted from your pre-taxed salary so that money normally paid in tax actually pays for your new ebike. The saving's will vary depending on your tax rate (High Rate tax payers will save up to 47% - Low Rate tax payers can save 32%) and the way your employer chooses to configure their scheme offer. Payments can be made over 6, 12, 18 or 24 months making the purchase very affordable although most emplyers offer just 12 months.
Self-Employed?
It may be more tax efficient to just buy the eBike as a company vehicle. Check with your accountant or ask us for more details.
How do I get started?
Pick an ebike and talk to us about the upgrades and accessories that would work well for your intended use and once decisions are made we'll email you a quote or two or three if you want to consider which one to go with.
Then all you have to do is convince your employer that IT'S A GREAT IDEA!
How do I convince my Employer?
Your employer tops up your NI by 13.9% of your salary. Most employers will be able to offset the costs of the bike onto something called an Annual Investment Allowanceaswell. Boosting their return up to 30%. Theres an incentive! If youwould like somebody to explain this to your employer, just drop us an email with a phone number, email address, and the contact person.
How many e-Bikes can I buy on the scheme?
You can buy up to 2 electric bikes per time.
Remember we're not just selling the latest thing - we REALLY know eBikes....since 2005. Get in touch or even better pay us a visit to discover more.
Our experience = your niggle free fun!
Delivery when you use a cycle to work scheme.
We cannot offer items at sale prices in combination with cycle to work schemes due to the significant cost of these schemes to us. The items can be ordered at full price and you still save 32 to 48% through the scheme.
We usually subsidise the shipping cost of our eBikes to make it easier to order online.
However we also fund the cycle to work schemes and therefore cannot also offer subsidised shipping alongside these schemes.
The ebike shipping cost when using a cycle to work scheme is £59.99.