CYCLE TO WORK
WHAT IS THE CYCLE TO WORK SCHEME?
The Cycle to Work Scheme is THE cheapest way for you to buy a bike. You’ll get upto 42% off the retail cost of a bike! A great way to improve your health and fitness, save money and join the ever increasing boom in cycling in the UK/Yorkshire!!
WHY CHEVIN CYCLES?
We are experts in the Cycle to Work Scheme, having provided many thousands of bikes on the scheme. We have dedicated staff to help and guide you and your employees in all aspects of the scheme and in choosing the right bike.
HOW MUCH CAN I SAVE?
HOW DOES IT WORK?
Your employer purchases the bike and equipment – chosen by you – and you rent it from them for 12 months
The cost of the bike/equipment is repaid by 12 monthly deductions from your Gross salary – i.e before Tax and National Insurance Contributions are calculated. You therefore save both these costs.
At the end of the hire period there is a further one off payment to be made, called the Fair Market Value payment. This can be between 3 -7% of the bike’s original value (this prevents you from incurring any form of future Taxable Benefit).
The net result is that you typically get a bike for around 75% of it’s retail value. What’s not to love?
HOW DO I GET INVOLVED?
The hardest part is deciding which type of bike you want!
Come along to one of our shops in Skipton, Harrogate or Otley (or visit us online here) and we will guide you through the maze of wheel sizes, frame geometry, frame materials and colours! If you need help – and crucially, to make sure you get the right size bike.
Choose a bike
We will give you a formal written quotation, which you give to your HR Department. You’ll sign an Agreement (to authorise them to take deductions to your salary etc) and receive a CtW Certificate/Letter of Collection.
Bring this to the shop and pick up your bike!
(usually available within 2 weeks of us processing the application) It really is as simple as that!