1. Choose your Cyclescheme package
What bike and equipment do you want? Consider your commute. How far is it? What route will you take? Be honest with yourself. What are your priorities? What accessories might you need? These are all questions you should ask yourself as you prepare to revolutionise your commute!
Decide on the package that suits you
Remember, if you’re visiting a retailer they can give you expert one-to-one advice; if you shop online, do your research, check reviews and make sure you get your bike sizing correct. Head to our Retailers page to choose your store or online retailer and get planning.
2. Submit your application
This couldn’t be easier. If your employer is signed up with Cyclescheme, they’ll have a unique employer code to use when you apply via cyclescheme.co.uk. If your employer isn’t signed up, they can join for free in just a few clicks here.
On the application page, you’ll be guided through a simple form that asks for your work details, contact information, and the value of the Cyclescheme Certificate you’re applying for. When you submit the form, your employer will receive a copy of your Hire Agreement.
3. Get your Cyclescheme package
With your application approved and paid for by your employer, it’s time to exchange your Cyclescheme Certificate for your Cyclescheme package. Contact your retailer and arrange a time to pop in and pick up your equipment. If you shopped online, your package can be delivered to an address that suits you, or you can opt for the click-and-collect service that some retailers offer.
Your salary sacrifice and Hire Agreement now kicks in. For the next 12 months, you’ll pay a set amount from your salary each month in exchange for the hire of your Cyclescheme package from your employer.
The deduction is made from your gross salary, so you make income tax and national insurance savings of 32% if you're a standard rate tax payer, or 42% if you're a higher rate tax payer.
4. Transfer ownership
When the Hire Agreement and salary sacrifice ends, you can keep your Cyclescheme Package by making a final payment for just a small amount.
For a Cyclescheme package under £500, you'll pay 3% of the original value; for a package over £500, it's 7% – so a maximum of £70 on a £1,000 package. The bike remains ‘hired’ for a further 36 months, but with no more monthly payments. Ownership can then officially be transferred to you at no extra cost.
This method of transferring ownership is why you save a minimum of 25% rather than a minimum of 32%. Many Cyclescheme participants will save more.
For a personalised savings figure, visit our calculator and enter your details.
Ready to roll?
Get started by heading over to the calculator to check your savings or use the Retailer finder to help you decide where you want to shop. Employer not signed up? Invite them.
Please note Cycle scheme is not available on some bikes due to heavy discounting or ex-demo models. Please call to check.
How does it work?
view our 9 simple steps
Employer registers with Bike 2 Work scheme and is given an employer pin
Employee registers with Bike 2 Work Scheme using the employer pin
Employee chooses one of our partner stores, makes their selection and obtains a written quotation
Employee signs in and submits quote on-line
Bike 2 Work Scheme raise an invoice and hire agreement which is sent direct to the employer
The hire agreement is to be signed by both the employer and employee
Once signed by both parties, the company make payment to Bike 2 Work Scheme
Once payment is received, Bike 2 Work Scheme will issue a voucher and post it direct to the company
Employee takes the bike voucher to their chosen shop to collect their bike/equipment
PROc2w is really simple...NO £1,000 limit!Save 32% or 42% on any bike you like.No 7% end of scheme penalty.FCA approval or CCL not required.Substantial employer tax savings.PROc2w is the UK's only Cycle to Work scheme with NO £1,000 limit. It's fully compliant with HMRC and Financial Conduct Authority regulations.
You'll make a genuine 32% or 42% tax saving on the whole price of any bike you fancy and of course you can pay monthly.
PROc2w is good for employers too. They make tax savings and we can finance the bikes so there's no affect on cash flow.
It's really easy to implement, you can even start now with Instant PROc2w. Just click the logo below.
Compared to other C2W schemes we're like a breath of fresh air and we're powering the Green Commute Initiative which really is all about fresh air. Find out more now! Cash neutral finance available.
Employer? Click here
to see how to turn £3,000 into £3,914 in 12 months. Or use The Green Commute Initiative to make tax savings with no outlay! Click here