SAVE £££s OFF YOUR NEXT BIKE
…. And all thanks to the Government
Want to save money and the environment at the same time? Why not quit forking out for petrol, ditch the car and get ‘On Your Bike’ with our superb cycle to work scheme.
We have teamed up with Cyclescheme to offer huge savings on the cost of a new bike for anyone who cycles to work. These savings have been made possible by the Government's "Green Transport Plan" which aims to get more people out of cars and on to bikes by offering generous tax benefits on cycles and cycle safety equipment.
Employees will typically save between 31% and 48% of the retail cost of bikes and accessories.
See our savings calculator to work out how much you could save!
Tax saving calculator
How does it work?
Your employer buys the bike and equipment, then leases it to you through an interest-free salary sacrifice scheme.In short, this means you'll pay less for your bike and will be able to pay in installments.
The Cycle to Work Scheme is a salary sacrifice. This means the cost of a new bike and equipment is deducted from your salary as a non-cash benefit, so you save on tax and national insurance.
This is a great scheme for both employers and employees alike. To find out more please call us on 01704 835720 or simply read on.
Formby Cycles accepts cycle to work vouchers from all these providers
Check out the links below to see what bikes that qualify for cycle to work
Mountain Bikes Hybrid Bikes Road Bikes Ladies Bikes
SOME BACKGROUND INFORMATION
Cycle to work - A great way to save!
Government legislation is allowing us, in partnership with OnYourBike, to offer workplaces substantial savings on the cost of bikes and cycling gear for staff who cycle to work. It enables employers to make bikes and cycling equipment available to their staff at greatly reduced prices. They can save up to 50% off the normal retail price. Cycle to Work is a scheme made possible by the Government’s Green Transport Plan.
Cycle to work - The Green Transport Plan
Cycle to work takes advantage of a generous tax allowance made available in the Government’s Green Transport Plan. This plan has been set up specifically to promote the use of bikes as an alternative mode of transport. Substantial investment is being made to develop and improve local cycle routes in order to make cycling safer and more enjoyable. The aim of Cycle to Work is to get more people cycling to work on a regular basis. This will ease traffic congestion, reduce pollution to the environment and also encourage a healthier lifestyle.
Cycle to work - How does it operate?
Cycle to Work allows employers to loan bikes and cycle equipment to their staff as part of their employee benefits package. It makes it possible for employees to benefit from a generous tax allowance if they opt for the bike instead of the car. To take advantage of Cycle to Work, employees agree to a small ‘salary sacrifice’ over an agreed period (normally 18 months) which is made from their gross salary and crucially not their take home pay.
Here are some of the benefits available to employers who run a Cycle to Work scheme for their employees:-
- Staff Welfare - A healthier workforce will lead to a better performance at work and fewer sick days being taken.
- Better Image - Promoting alternative transport initiatives will show you have a keen interest in the local community and environmental issues.
- Less Congestion - A cycle to work scheme means fewer spaces will be needed for workplace parking.
- Reduced Overheads - Cycle to work will save you money as an employer because your wage bill will go down which means lower payroll overheads. You gain and so do your employees!
- Simple Administration - Various options are available to help promote cycle to work internally. The scheme is easy to run and because we take care of the paperwork from start to finish there will be no unwanted ‘red tape’ for you to deal with.
Here are some of the benefits available to employees should their employer choose to run a Cycle to Work scheme for them:-
- Huge Savings - Employees can save up to 50% off the retail cost of bikes and accessories and all thanks to one of the best Government tax breaks ever. Why not see how much you could save by clicking on the link below.
- Extensive Choice - Formby Cycles have the most extensive choice of top cycle brands in the UK: Giant, Specialized, Marin, Land Rover, Pashley, Dolan, Pinarello, Trek, Wilier, Colnago, Brompton, Mezzo, Dahon, Felt, Whyte.
- Expert Staff - Formby Cycles have trained mechanics in store and we have some of the most experienced sales and customer service staff in the industry to make sure you get the best advice when choosing your new bike and accessories.
- Extended Warranty - Our store is open 7 days a week and our Cycle to Work hotline 6 days a week, so we are always on hand if there are any problems and a full manufacturers guarantee apply to all purchases from Formby Cycles through the Cycle to Work scheme.
TO FIND OUT MORE
To find out more simply call us on 01704 835720, visit our store, or email us at email@example.com
Or look at the links on the websites below
Cycleplus, no two people are the same, our cycle to work scheme recognises this and offers every employee the right scheme whether they are an experienced cyclist or complete novice: This choice is a key factor in its wide appeal. What's more, if missing, we will recruit ANY cycle retailer in your local area to our network.
Formby Cycles are currently accepting Halfords Cycle Scheme Vouchers allowing you to choose from a much wider selection of bikes.
If you wish to buy a quality bike and equipment from the great brands we stock but you only have access to the Halfords Cycle to Work scheme then don't worry. You can now request that you Halfords Cycle to Work voucher is changed to be able to be redeemed at Formby Cycles,..Just Call the Halfords team on 08450 778835 and they will arrange this switch for you.
Bikes for Staff allows employees to take advantage of the government’s tax free Cycle to Work initiative. This allows for you to be provided with a bike of your choice from your employer through easy monthly payroll reductions whilst saving up to 47% on the cost. Through this method, you do not have to pay Income Tax, National Insurance and NHS Pension Contributions (if you are employed by an NHS organisation) on the value of the bicycle.
Bike 2 Work Scheme Limited enables employers and employees to work together to take part in the Government’s Cycle To Work Scheme.
Save up to 42% on the cost of bikes/equipment.,Improve your general health and well-being.Lose weight and tone up.Cost is spread over weekly/monthly interest free payments.Save money on travelling costs.
Cyclescheme is the UK's number one provider of tax-free bikes for the Government's Cycle to Work initiative. It's a brilliant programme where everyone wins - employees make big savings on new bikes, employers get a healthier workforce and save money too! Cyclescheme has a great track record in helping employers of all sizes to set up and run successful Cycle to Work schemes. Our innovative online system is simple to use, and we have decades of industry experience and a vast supplier network of over 1,200 independent bike shops. Click here to see how much you could save.