The Cycle to Work Scheme is a Government initiative to promote
more employees to cycle to work. Thanks to a Government ‘Green
Initiative’ you could loan a bike from your employer tax free,
if you use it to commute to work.
Below are some frequently asked questions which we hope will answer
any questions you may have relating to the Government's Cycle To
Work Scheme.
1. Who is eligible ?
Employers of all sizes across the public, private and voluntary
sectors can implement a tax exempt loan scheme for their employees.
2. What equipment is included under the tax exemption?
Eligible equipment includes cycles and cyclists' safety
equipment.
3. What value of equipment can be supplied?
There is no limit on the total value of the equipment
including the cycle.
4. How do we set-up a Cycle to Work Scheme?
To take advantage of the tax and Class 1A NICs exemption, an employer
can simply buy a cycle and cyclists' safety equipment, reclaim
the VAT, make use of the capital allowances and loan it to an
employee for qualifying journeys to work.
5.Can the employee keep the cycle at the end of the loan
period?
There should be no automatic entitlement for the employee to take
ownership of the cycle and cyclists' safety equipment at the end
of the loan period.
6.How long does a Cycle to Work scheme have to run for?
There is no fixed time period for which cycles and cyclists'
safety equipment must be loaned under a Cycle to Work scheme.
7. Is there a Mileage Allowance?
Employers can pay up to 20 pence per mile tax free to
employees who use their own cycles for business travel.
For more detailed information about the Government's Cycle To Work
Scheme, please click here.
Should you require any more additional information please do not
hesitate to contact us either by sending us email or using our online
enquiry form by clicking here.
We can also be contacted by any of the methods listed below.
e-bikeshop.co.uk
Unit 33, Raynham Road
Bishops Stortford
Essex, CM23 5PL
England
Tel : +44 (0) 1279 466172
Fax : +44 (0) 1279 466182
Email : sales@e-bikeshop.co.uk
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