cycling | at a considerable discount
Really, cycling | at a considerable discount, well cycling has massively expanded over the last 10 years and electric bikes have certainly changed the way some of us look at cycling if we don’t like lycra. A vast number of bikes are used in the journey to and from work. You only have to go to Amsterdam to see how this could work better and reduce pollution. The Government wants to encourage this.
I bought an electric bike recently (a Raleigh Motus via eBay at a fraction of the list price, who says you can’t still get bargains?) and have enjoyed the freedom, fitness and pleasure cycling brings. The additional benefit of not being reliant on the car is even better
Its worth reminding you that there is Uk tax break of up to 40% off the cost of a bike! A tax free bike subsidised by the government and helped by your employer…yes its true. cycle2work was actually started in 1999 and enables basic rate tax payers to get a massive 40 % off the cost of a new bike under the Governments greener transport scheme.
How does it work? Well your employer is allowed to provide you with a bike to travel to work as a tax-free benefit, you can use this bike for leisure too as long as you use it in your commute to work. What really happens is
- your company buys the bike and…
- leases it to you over a set period (anything from 1 to 3 years)
- at the end of this you can buy the bike for a nominal fee (around 2 to 5% of the original price).
- Your company can claim VAT back on the purchase,
- the money you pay in your lease comes out of your salary pretax, and…
- everyone wins including the environment.
The easiest way to get cycling | at a considerable discount, sorted, is through a cycle2work provider, and they ensure your company can get the scheme going without lots of bureaucracy and hassles with accounts and payroll. Check it all out at: