What is it?Velorution's own cycle to work scheme. A hire agreement between Employer and Employee for the provision of a bike.
Benefits?Unlike 3rd party schemes it's simple to use with no vouchers involved and follows the Department of Transport Cycle to Work guidlines which can be found here
How does it work?
- > Choose what equipment you would like to purchase
- > Once you have chosen your bike and accessories, provide us with contact details of your company
- > When your company has approved the purchase we will send an invoice for payment
- > Download and fill in the Velo2Work hire agreement between you and your employer and complete.
- > Upon payment the bike and accessories will be available for collection
- > Inform your company payroll provider of your cycle to work purchase and they will make the necessary salary sacrifice
Employee Benefits1. Paying for a new bike over a 12 month period out of there salary.
2. Personal tax saving in income tax and national insurance contribution.
3. Employees will typically save between 31% and 48% of the retail cost of bikes and accessories. (dependant on their personal salary)
Employer Benefits1. Typically, organisations can save 13.8% of the total value of salary sacrifice because of reductions in the amount of National Insurance Contributions due.
2. The cost of cycling equipment can be treated as capital expenditure and therefore employers can claim capital allowances against it.
3. Fitter and healthier staff.
For further info email:[email protected]
VELOTOWORK Hire agreement, is regulated by the Consumer Credit Act 1974 - Agreement between the Employer and Employee for the provision of a bike.
Third party CYCLE SCHEMES
We accept cycle to work vouchers
Please note discounted and promotional bikes are subject to a surcharge to cover the cost of the 3rd party scheme
If you already have a voucher with another scheme we can redeem it towards a Velorution stock bike. We support the following schemes:
To see how much tax you can save, see CycleSchemes calculator: Click here