cycle scheme

CYCLE SCHEME

WHO ARE CYCLESCHEME?

Cyclescheme is an independent company created to help employers and employees make the most of the Governments Green Transport Plan Initiative.

HOW DO YOU JOIN CYCLESCHEME?

Your employer has to be willing to run the scheme before you can get your bike. Your employer can get a full information pack from www.Cyclescheme.co.uk

HOW MUCH CAN YOU SAVE?

Typical savings are between 30% and 50% but the actual amount you pay depends on your personal tax band, and the way your company runs the scheme. Higher rate taxpayers will save more, employees whose company cannot reclaim VAT (the NHS for example) will save less. If the employer uses external finance (i.e. your employer borrows the money to buy the bikes from an outside source) then savings are normally 5% lower. Finally, the fair market value payment needs to be taken into account when calculating the total savings.

HOW ARE THE SAVINGS MADE?

Your employer buys the bike from Cyclescheme and hires it to you. You pay back the loan on your bike, accessories and safety equipment from gross rather than net pay. Your payments are deducted from your gross monthly salary.

MORE INFORMATION REQUIRED ABOUT CYCLESCHEME?

Contact Cyclescheme at – otherqueries@cyclescheme.co.uk

HOW DO YOU ORDER YOUR BIKE?

You can order your bike online. At checkout you should select the payment method Cyclescheme. Print off the completed order form that will be automatically emailed to you after you have confirmed your Bike Order. Send this form to us along with the Cyclescheme voucher supplied to you by Cyclescheme. Cyclescheme orders are not considered ‘active’ until we receive your Cyclescheme voucher. Quoted delivery dates are therefore from the date we receive your voucher and collect your administration charge.

How do you get a Cyclescheme Voucher?

Contact Cyclescheme and they will supply you with a secure voucher for the price of your bike. Cyclescheme may require you to provide a quotation for the price of the bike. If this is the case then contact us at sales@grahamweighcycles.co.uk and we will provide you with a written quotation.

How much can you spend on a bike?

Most employers are only able to accept a maximum of £1000 on the scheme. If you wish to spend more than that please contact us and we will advise you.

Cyclescheme Order Confirmations

Order confirmation prices are only valid for 28 days. If we do not receive your Cyclescheme voucher within that time we reserve the right to cancel your order or request you to pay any price increase that may have occurred during that 28 day period. We will require you to pay any price increase by credit card direct to our Accounts Department.