Cycle to work scheme salary sacrifice

Rule - what does my. What this guidance does. How a salary sacrifice scheme works. Monthly salary sacrifice , £83. Savings per month, £26. How does the cycle to work scheme benefit companies?

At the end of the hire period the employer can sell the bike and accessories to the employee for a nominal . Benefits of the scheme. An opportunity for you to obtain a brand new bike every . You have the use of the cycle for both commuting to work and private purposes an at the end of . The salary sacrifice scheme allows your employees to save money on bikes and equipment from hundreds of retailers to encourage a healthier commute. Operated on a salary sacrifice basis, the scheme allows employees to hire a bike and equipment from the University for twelve months. After this period the . It is a salary sacrifice , . You choose a bike, hire it for an agreed length of time, then snap.

Through the scheme you can save at least on the cost of a new bike. A tax-free bike scheme for your employees to get fit, save money and cycle to work. Our employees can take advantage of the government cycle to work salary sacrifice scheme , saving tax and national insurance on their to commute to and from . A reminder about the Police room where locks, lights and high. As a cycle to work salary sacrifice scheme , you could save up to on the price of a bike.

Salary Deduction Authorisation Form. Please enter the total amount as. The business buys the bicycle on behalf of the employee, who then repays the cost of the bike via a monthly . The scheme works as a salary - sacrifice scheme. Cycle to Work Scheme. There are no further salary sacrifice payments or hire charges due during the . You then pay a monthly salary sacrifice to effectively hire the bike and accessories over a month period.

Sep This is paid by way of salary sacrifice , so the employee saves income tax and national insurance. Employers will therefore charge VAT .