Let the taxman help you buy your e-bike conversion kit!
The Cycle to Work Scheme
The cycle to work scheme was introduced by the government to encourage people to commute to work in a healthier and more environmentally friendly way. It’s a tax efficient way to buy your e-bike conversion kit and/or accessories.
What do I get?
The scheme is an employee benefit that saves you up to 47%* off the price of the Easi-Fit Ebike Kit and/or any of our accessories. You pay nothing up front and the payments are taken tax efficiently from your gross salary by your employer. Payments are usually spread over 12 months (although some employers may offer different terms).
*The amount of savings you make is dependent on which income tax-band you are in. This coupled with your national insurance contributions will give you the percentage of what you’ll save from your gross salary.
Basic Taxpayer Rate = 20%.
National Insurance contributions = 12%.
Total saving = 32%
Higher rate tax payers can save as much as 47%.
Can anyone use the scheme?
If you are an employee on PAYE and your employer is registered with one of the Cycle to Work scheme providers, then yes, you can purchase our kit and accessories using the scheme.
If your employer does not run a cycle to work scheme, you might consider asking them to do it – it’s simple to set up, easy to manage and they will save on NICs. Not to mention boosting their employees’ health and happiness!
How does it work?
Each employer may run their scheme slightly differently, so it is worth speaking with them first. Generally, these are the steps you will take:
- Decide which size kit you want to purchase and any accessories.
- Email us at email@example.com to ask for a written quote*.
- Take the quote to your HR department (or whoever runs the scheme at your employer).
- Once your employer has approved the purchase and paid the scheme provider, they will give you a certificate with a code. This typically takes 2-14 days.
- Email this certificate to us at firstname.lastname@example.org
- Once we have received the certificate from you, we will dispatch your goods.
*Scheme cannot be used in conjunction with any other discount vouchers.
It seems there are different Cycle to Work schemes. Which one should I use?
The “Cycle to Work scheme” is the name given to the generic tax efficient scheme introduced by the government. Within that, there are several providers who operate the scheme. If your employer is offering a cycle to work scheme, then they will probably have chosen one of these providers. The 6 main providers are listed below, and Easi-Fit Ebike Kits is a registered retailer with each of these providers. If your employer is a member of a different scheme, let us know and we will register with them.