How to save income tax on a new bike and accessories…
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.
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
- Pop into the shop and choose the bike and the accessories you would like.
- We’ll fill out a quotation form with the items you require.*
- Take the quotation to your employer and either wait for your Cyclescheme voucher or confimation.
- 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.
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.