Cycle to Work scheme

Tax-free bike purchase

The Government has introduced a tax-free bike purchase scheme called Cycle to Work so that employees can buy a bike with up to a 50% discount. 

Employers can loan bicycles to their staff as a tax-free benefit providing that the bicycles are used some of the time to get to and from work or for work related purposes. Employees can then buy the bike at the end of the 12 month loan period for a nominal sum.

Any employer can set up their own ‘Cycle to Work’ scheme, which operates like a salary sacrifice scheme. For employers who don’t wish to set it up, it can be outsourced to third party companies. There are four main Cycle to Work facilitator schemes being offered by Bike Boost, Cyclescheme, Cycle Solutions and Halfords

Employees working for Buckinghamshire County Council and paid directly by BCC can make applications to the cyclescheme bikes for work offer during the months of April and September each year. 

[Above: Commuters cycling to work in Aylesbury]