To facilitate this, the government has allowed bicycles to be loaned to employees “tax free” as part of their employment package.

Our “Cycle to Work” scheme is a complete package for running this tax free initiative. We have designed our NHS specific scheme to be as easy as possible for all NHS organisations to implement, as it is fully managed and is run at zero cost.

The Trust provides a bicycle to their staff and in return the employee agrees to a monthly reduction in their gross salary (a Salary Sacrifice) for the use of the bicycle during the loan period. The loan period is 12 months and at the end of it the employee is offered the option of either buying or returning the bicycle for a nominal payment (typically 10% of the value). The Cycle to Work scheme works this way to take advantage of the specific tax legislation within the 1999 Finance Act.

The benefits to the employee of running the Cycle to Work scheme are:

• A saving on Income Tax of up to 40%
• A saving on National Insurance of up to 11%
• A saving on NHS Pension contributions of up to 8.5%
• Big discounts when compared to the High Street
• No High Street APR rates and no credit checking
• Aids a healthier lifestyle

The benefits to the Trust of running the Cycle to Work scheme are:

• Staff retention – attractive benefit package
• Healthier workforce
• In line with Government objectives
• Ease parking congestion
• The scheme costs nothing to set up or run
• Involves minimal administration
• A saving on Employers National Insurance of up to 12.8%
• A saving on NHS Pension contributions of 14%

The scheme is implemented for you as a fully managed service by our NHS experienced staff. We take the burden away from you and make it hassle free.

We are currently implementing schemes for Acute, Mental Health, Ambulance, Primary Care Trusts and GP Practices across the UK.

Call us now on 0870 609 1114 to see how we can help you