The Cycle to Work Scheme is a Government-backed initiative to encourage people to cycle to their place of work, and consequently reduce environmental pollution. It's also a way for you to save money on the cost of your cycle and spread the cost over a number of months, through your pay packet.How do I get a cycle through Cycle to Work?
If they haven't already, your employer needs to register with one of the Cycle to Work Schemes in order to offer this benefit to their employees. Once they are signed up with a scheme, the employee needs to find a cycle retailer who is also registered with that scheme. Electric Bike Factory is registered with three of these schemes - Bike2Work, Cycle Scheme, Green Commute Initiative and CyclePlus. You'll see our name listed on each of these schemes such as Earth Cycles or Electric Bike Factory, other names we trade under, but we are the same company.
The paperwork required differs for each scheme and should be available from your employer or from the links below for each scheme:
Once the necessary paperwork is completed you will usually be issued with a certificate by your employer or Cycle to Work Scheme that you can use to purchase the bike from Electric Bike Factory. Your employer pays for the bike via the scheme and the scheme then pays us for the purchase once you have collected the bike and provided us with your certificate. We'll also sometimes ask for proof of ID, depending on the scheme. The cost of the bike is then deducted from your salary over a period of time, but as you don't pay tax or NI on the income that's deducted, you make a saving on what you would pay if you purchased outright. This saving will vary depending on which tax band you fall into!
Full details of the government Cycle to Scheme are available to download from here
When buying a bike on any Cycle to Work scheme there is an additional fee of 10% of the purchase price to pay to cover the cost of the scheme.