How It Works

The Employer

  • Signs an agreement with Cycles UK for the provision of the Cycle To Work Scheme (one time only)
  • Responds to Quotes for authorisation and pays invoices accordingly
  • Signs a pre-populated Salary Sacrifice agreement between Employee and Employer
  • Releases Voucher to the Employee for the redemption of their chosen equipment

The Employee

  • Obtains a Quote from Cycles UK via this site or in-store
  • Signs a pre-populated Salary Sacrifice agreement between Employee and Employer
  • Redeems the Voucher in-store to receive their chosen equipment

Example with £1000 of equipment over a 12 month hire

The Employee pays £56.67 per month from their net income over 12 months, total £680.04, saving 32% on the cost of the equipment.

The Employer receives £83.33 per month over 12 months, total £999.96, plus 13.8% or £138 reduction in their Class 1 National Insurance Contributions.

This is a Salary Sacrifice arrangement backed by HMRC.

© 2020 Cycles UK Limited, Unit 3, Olympic Business Centre, Paycocke Road, Basildon, Essex, SS14 3EX