Cycle to Work: England
If you are considering cycling to work but need a new bike and accessories, don’t forget the Bank offer a salary sacrifice scheme to help you save up to 42% on the cost of a new bike!
The ‘Cycle to Work’ scheme allows you take advantage of the Government initiative offering access to bikes as a tax-free benefit and there are loads of options to choose from.
The Flagscape portal gives access to the MyBenefits page where you’ll find the application form for ordering your new bicycle and accessories.
Put simply you choose a bike, hire it for 12 months and then pay a fraction of its original value after a year to own it outright.
Each employee can spend up to £1500 on a bicycle, a bicycle plus accessories and equipment, or even just cycling accessories and components. You can choose from over 500 different cycling brands from Cyclescheme’s network of retailers.
We’ve provided links to some frequently asked questions below to give you a better idea of how the process works. There’s also handy savings calculator and store finder tools linked below.
Cycle to Work: Ireland
Employees have the opportunity to purchase a bike (and associated safety equipment) as part of the ‘Cycle to Work’ scheme, these type of arrangements allow you to pay for your new bike through a salary sacrifice arrangement, enabling you to save up to 52% compared to buying a bike on your own.
For more information on eligibility, bike options and timescales to participate, email email@example.com