Cycle to work scheme

A tax free bike and accessories . . . where do I sign?!

At Red Kite we are great supporters of the government’s Cycle to Work scheme and have supplied many customers with bikes through this excellent initiative. If you’re not familiar with Cycle to Work, take it from us, it really is a win, win situation! You save up to 42% on a bicycle and safety accessories and your employer reduces their carbon footprint and helps you to be a healthier worker.

In financial terms, Cycle to Work is a salary sacrifice scheme. In other words the cost of the bike and accessories comes out of your wages before tax and National Insurance is deducted. Depending on how much tax you pay, this allows you to save between 25% and 42% on the cost of your bike. If you are self-employed and paid through PAYE, speak to your accountant who will be able to advise you on how you can access the scheme.

 

Here’s a video from Cyclescheme to explain the process

 

Red Kite currently offers bikes through the following schemes:

  • Cyclescheme
  • Cycle2Work (Halfords)
  • Connected Benefits
  • Cycle Solutions
  • The Salary Exchange Ltd
  • Enjoy Benefits
  • Cycleplus
  • Bike 2 Work

If your employer’s scheme is not one of these, please contact us via phone or email as we may be able to register and supply you with a bike.

Remember the total saving you can make depends on the specific scheme you are registered with and your level of salary and tax status.

Please be aware we may charge a small one-off administration fee for some of these schemes.

Here’s a step-by-step guide to buying a bicycle through the scheme:

  • Find out which scheme your employer supports.  If your employer doesn’t offer one – persuade them to!
  • Come see us in the shop and discuss the kind of bike you would like and the accessories you need to go with it.
  • We will supply you with a quote. To speed things up we will take a refundable deposit to activate your order.
  • Submit your quote to your employers’ scheme
  • When your quote is approved, you will receive a certificate or a voucher. When you’ve got this – give us a call and we will build your bike.
  • When your bike is ready, come in and collect it, bringing with you the certificate or voucher.
  • Take your new bike home and enjoy some fun riding!

Try working out how much you could save on the calculator below: