CYCLE TO WORK
Cycle to Work scheme
We’re pleased to say we can now offer the Green Commute Initiative Cycle to Work Scheme. This is excellent news because the scheme doesn’t have the £1,000 limit so all of our bikes are available.
The savings are substantial and depend on your tax rate. GCI has a handy calculator here:
How it works
Come and look at our excellent range of custom bikes and accessories. We’ll make sure you get exactly what you need and then provide you with a quote, which you enter here:
When you submit the quote the site will generate a proforma invoice for your employer to pay. Once that’s paid GCI will send you the necessary forms to electronically sign.
Once you’ve signed the forms GCI will send you a collection voucher. Bring this along to us and we can start your fitting, refine the geometry and start your build.
REMEMBER: All of our bikes are custom built so you cannot cancel or return the bike for a refund.
Your employer will then reduce your salary in exchange for the voucher. This is known as salary sacrifice because you give up part of your salary for the benefit of your new bike.
Will I own the bike?
The tax break is for the use of the bike and not the ownership so you will actually be hiring the bike from GCI. However as long as you observe HMRC’s rules you will own the bike at the end of the scheme and unlike many other Cycle to Work Schemes you won’t have to pay any end of scheme fees. So you’ll save whatever your tax rate is.
What if I want to upgrade or need to sell the bike before the scheme end?
You can do this. Just contact GCI who will let you know what to do. Of course, if you want another bike from us, we’re more than happy to help.
I want more information!
No problem, just check GCI’s site here https://greencommuteinitiative.uk/ or give them a call.