Cycle to Work Scheme
The Cycle to Work scheme, also known as Cycle2Work, is a government-backed initiative that allows employees to purchase a new bike and accessories at a discount by using salary sacrifice. The scheme helps employees save money on a bike and associated equipment through a tax-efficient payment plan.
Why Use our GCI Cycle to Work Scheme
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Save between 28% & 47% (depending on your tax rate).
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Easy interest free monthly payments through salary sacrifice
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The only scheme provider designed for eBikes with no £1,000 limit
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Payment periods ranging from 3 to 60 months
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No ownership fees after payments completed
Who Can Use a Cycle2Work Scheme
To take advantage of the Cycle to Work scheme
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You need to be over 16 years old
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Have had a contract of employment for a minimum of a year,
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Be paid via the PAYE system.
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Have an employer that is willing to register with the scheme.,
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Your salary must remain above the National Minimum Wage after the salary sacrifice for the bike,
Our Main Scheme Provider
We have partnered with the Green Commute Initiative because they specialise in higher value bikes and have no 7% ownership fees at the end of the payment period .
You can purchase both our new hybrid eBike, eTrikes and even our preloved ebikes. If your employer is already working with an alternative providers we should be able to work with them too
How the Process Works
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The scheme is offered through participating employers, who buy the bike and equipment on behalf of the employee.
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Employees agree to sacrifice a portion of their pre-tax salary, which is then used to make monthly payments towards the cost of the bike.
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By paying for the bike with pre-tax salary, employees pay less income tax and National Insurance on the sacrificed portion of their salary, leading to significant savings.
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Employees typically hire the bike for a period (usually 12-18 months) and then can choose to purchase it outright at the end of the hire period, typically for a small fee.
You can use the calculator below to see what you could save using the Cycle to Work Scheme