As an employee of the Company, we’re pleased to offer you the opportunity to purchase a bike. The scheme allows you to hire a bike and safety equipment up to the value of £2,500 from your Cycle Solutions as a tax-free benefit through salary sacrifice.  At the end of your Hire Agreement you will have the option to simply hand the equipment back or take ownership of it through a process called Transfer of Ownership.

This is a voluntary benefit paid for via salary sacrifice deductions from your monthly salary, whereby you reduce your taxable pay by the corresponding monthly cost of your chosen bike and equipment.

If you leave employment, we will take the outstanding hire payments from your final net salary. This lump sum will come from your net pay, i.e. not subject to any TAX savings. If there is not sufficient money in your final net salary, you are legally bound to repay the full outstanding balance within 14 days of leaving.

To learn more click here.