What is Cycle to Work Scheme .pdf
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Learn More about this Scheme
Cycle2Work scheme has been initiated by UK Government under its
Government Green Transport Plan whose objective is to keep the
environment and air clean and healthy. Under this scheme, the
Government is providing great tax savings on bikes and other cycle
accessories which can be availed from the local cycle retail stores as there
are over 1700 retail bike shops in the UK, who are providing these benefits
under the Cycle2Work scheme.
In order to get the benefits of Cycle2Work scheme, it is important that the
minimum age should be 16 years and the person must be a UK tax payer via
the PAYE system.
The scheme is available for all employees you
are UK tax payers but not to the directors or
to those employees who are hired on an
incentive basis scheme. The detailed
information about the terms are mentioned
on the website which you can go through
and check your eligibility when applying for
NO, there are no credit-checks involved in order to apply under this scheme,
you simply need to a UK permanent resident and must be a taxpayer via the
PAYE system with over 16 years of age.
No Credit-Checks Involved
Employer registers via the website and submit his/her bike2work PIN which
they normally provide to staff. After the pin is submitted employer would
need to go one of the registered bicycle store to choose the product and a
written quotation. The Employer can than login to our website and submit
their quotation, after this is submitted, they will receive an email
confirmation if their quote has been approved/declined. If the application is
approved, they will be able to download the invoice and agreement so this
could be signed by both the parties. The vouchers are issues the very same
day. Both employer and employee will be notified that the payment has been
received and the vouchers have been issues for the same.
For more information, visit your one of
the most trusted bicycle shops London.