February 07, 2014

How to save income tax on a new bike and accessories…

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Bike2Work Scheme
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Bikes For Staff
Cyclescheme
Cyclescheme

If your employer has signed up to a scheme bearing any of these logos, then we can help you with your new bike or accessories.

Read On…

If you wish to buy a bike and take advantage of the government backed Cycle to Work initiative, read on. Cycle to Work can save you upto over 32% off the price of a new bike through tax and National Insurance savings. It’s open to everybody and currently the following information applies.

Cyclescheme In 4 Easy Steps

  1. Pop into the shop and choose the bike and the accessories you would like.
  2. We’ll fill out a quotation form with the items you require.*
  3. Take the quotation to your employer and either wait for your Cyclescheme voucher or confimation.
  4. Bring your voucher or confimation email in and arrange to pick up your bike and accessories.

* If you want to secure the bike to make sure we still have it by the time you get your voucher, then please leave us a cash deposit, which will be refunded when you bring your voucher.

FAQ

How long will I have to wait for my voucher?

Usually you will receive your voucher/confirmation email within a couple of weeks.

Can I use my voucher against sale items?

Because Cyclescheme charge us a commission, we cannot take Cyclescheme vouchers against any item which is on sale.  However we can still accept the voucher for any item at full price.

Can I do Cyclescheme on Ellis Briggs handmade bicycles?

We can accept Cyclesceme vouchers on our handmade bicycles, however there is an admin charge of £100 to cover the cost of Cycleschemes commission.

How much can I spend on a bike an accessories?

Cyclescheme allows you to claim up £1000 but you can top this up yourself (except for the bikes for staff scheme) if you’re looking for a bike which cost more.  We accept Cyclescheme vouchers for bikes and accessories totaling £300 and upwards.