What is Bikes Scheme?
Our Cycle to Work product is by far our most popular Salary Sacrifice benefit and is used by most of our clients. We are one of the UK’s largest providers and have built a comprehensive programme to provide employers with a compliant and easy to use system that takes care of everything from employee enrolment all the way through to payroll administration.
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Employee enrolment, engagement and HMRC compliance
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Extensive range of retailers including Halfords
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Online Hire Agreements
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Flexibility to set your own rules and election windows
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NMW and under 18s solution
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Helpdesk support and manual enrolment if required
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Full online administration and payroll reports
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Electronic dispatch of Letters of Collection
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Added value incentives and discounts
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No cost to you and cash neutral – funding facilities also available
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Transfer of Ownership administration.
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Fully HMRC compliant
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Employers save 13.8% in reduced NIC
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Employees save up to 42% in tax and NI (higher rate tax payer)
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Deductions fixed for 12 or 18 months
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Employees can select more than one bike
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Safety equipment and accessories can be included
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Up to £1,000 spend or more if required
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Employees are not able to ‘top up’ on the value of their selection using their own money and bikes should be fit for the purpose of cycling to work
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Should be made available to all
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Transfer of ownership should comply with HMRC governance