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It's widely recognised that regular cycling is good for your body and the planet, but did you know that buying your new bike and accessories through a cycle scheme can be good for your wallet too!
In fact, you could save up to a massive 42% off that new bike you’ve been dreaming about!

More than 400,000 people have already bought a bike using a cycle scheme, which was introduced as a tax exemption in 1999 by the government, to ‘promote healthier journeys to work and reduce environmental pollution’.



How do cycle schemes work?

In essence, your employer buys a bike for you to ride to work. You ‘hire’ it through salary sacrifice (which is where you save, by not paying tax and National Insurance on the monthly fees) and at the end of the ‘hire’ period you buy the bike from your employer, for a nominal fee.
Because it was set up to promote work journeys rather than cycling in general, your employer technically remains the owner of the bike once you finish the hire period. Everyone knows that in practice the employee is ‘buying’ the bike, but that isn’t legally the case until the salary sacrifice ends and the employer ‘sells’ the now heavily depreciated equipment to the employee.



What’s in it for you?

 

Which schemes do we support?

                            

If your employer's scheme isn't shown here, come and talk to us. Chances are we can still support you.