Cycle Solutions Announces Up to 50% off Bikes for Employees

Developed by one of the UK’s largest independent cycle dealers, Wheelies Direct, Cycle Solutions enables employees to save up to 50% from the cost of a new bicycle and cycling equipment. The scheme enables employers to loan bicycles to their staff over a period of typically 12 to 18 months. Businesses are able to reclaim VAT on bike purchases. Employees cover the cost of bikes through a monthly ‘Salary Sacrifice’ scheme similar to that introduced to assist families with the cost of childcare and pensions.

“As the employee makes a monthly sacrifice from their gross salary they can make great savings in tax and national insurance contributions” says Steve Edgell of Cycle Solutions, “employers are also able to pass on a further VAT saving which means that employees end up saving between 43% and 50% of the value of the bike, depending on their personal tax circumstances.”

Other schemes are available but Cycle Solutions is the first to provide a truly cost free end-to-end solution for businesses. “Our scheme has seen employee take up rates of up to 28%. We think this is because we spend a great deal of time in ensuring that employees know about the scheme and the great savings it offers”, says Edgell. “We are able to work with employers to develop marketing materials and provide on-site road shows which show employees how much they can save. We also handle all of the administration which is a real attraction for employers keen to reduce costs.”

Further details on the Cycle Solutions Cycle to Work scheme can be found online at www.cyclesolutions.co.uk or by calling Steve Edgell and Natalie O’Rourke on 01792 560652.

Contact Details:
Steve Edgell
Business Development Manager
Wheelies Direct Ltd

Tel 01792 560652
Email stevee@wheelies.co.uk
Web www.cyclesolutions.co.uk