Cyclescheme
What is it?
The Government's cycle to work initiative allows you to obtain a tax free bike. For most people, this means about a 32% saving. Effectively, you enter a loan agreement with your employer and pay for the bike out of your gross salary. At the end of the loan period you are normally able to make a one off payment to take ownership of the bike.
Your employer can handle cycle to work bikes in one of two ways. They can either self administrate the scheme themselves or can use a third party, such as Cyclescheme, to administrate the scheme for them. If your employer self administrates then they will simply need a VAT receipt for their records, please contact us directly if you needs this. If your employer is affiliated to Cyclescheme then you can use this quote builder to obtain your quote. Please note, we are not affiliated to other facilitators such as Bike2Work and Cycle2Work.
Please Note: Sale bikes will be subject a 10% premium on the voucher amount when paying by Cyclescheme voucher. This is due to Cyclescheme's charges. This does not apply if your employer pays us directly through the shop or our website, rather than proceeding with a Cyclescheme voucher.
More information is available at Cyclescheme's Website
How to obtain your bike using a Cyclescheme voucher:
1. Please contact us directly to discuss your voucher
2. You can order the bike over the telephone by providing a certificate number and redemption code.
3. Delivery will be arranged, once delivery charge of £20 for UK Mainland addresses have been paid.
FAQs
Where can my bike be delivered to?
We can deliver to either your home address or your work address. We cannot deliver to any address that is not shown on your voucher.
Is there a delivery charge?
Yes. Delivery will be charged at £20 for all UK Mainland addresses. Delivery charges will not appear on your quote and will need to be paid for outside of your voucher.
What forms of ID are acceptable?
Photo ID: A copy of a valid UK Driving Licence or UK Passport
AND
Proof of Address: A household utility bill or bank statement dated in the last 3 months showing your name and address. Internet statements are not acceptable.
Can bicycles be shipped when paying with a Cyclescheme voucher?
Yes, please follow the above procedure.
Is there a limit to the value of the bike and accessories I can select?
*updated 13th June 2019* Starting from the 16th of August 2019 the Cyclescheme limit will no longer be restricted to £1000 for employers without a consumer credit limit. Your employer's can choose to restrict vouchers to a limit or offer an unlimited scheme.
Can vouchers be "topped up" with additional funds?
*updated 13th June 2019* The "topping up" of vouchers is no longer permissable.
Are Sale/Discounted bikes available when paying by Cyclescheme voucher?
Yes. However, due to their reduced margin, sale bikes will be subject to a 10% surcharge which will added to the quotation. This is standard procedure for Cyclescheme stores.
Are there any exceptions as to what can be purchased using a Cyclescheme voucher?
Yes. You cannot purchase the following items: GPS ride trackers and navigation devices, children's bikes, bike racks for cars, cameras, turbo trainers or rollers, gift cards, nutritional products / food products, power meters, headphones.