Cycle To Work Scheme: Big savings on a new bike at Broadribbs!
Our bike shops are approved suppliers of tax free bikes for all cycling to work/bike to work schemes in Banbury, Bicester and wider Oxfordshire. We have a huge range of mens, ladies and unisex bikes along with cycling helmets, clothing and accessories. All available quickly through the cyclescheme
What is the Cycle to Work Scheme?
The Cycle to Work scheme is a UK Government tax exemption initiative introduced to promote healthier journeys to work and to reduce environmental pollution. It allows employees to obtain commuter bikes and cycling accessories through their employer via salary sacrifice programmes and similar, spreading the cost over 12 months and making unbeatable tax savings through a tax break.
If your company is signed up to be part of the cycle to work scheme initiative then you could be eligible to save either 32% or 42% on bikes, parts and accessories. We are approved suppliers to many of the approved scheme providers, including Cyclescheme, CyclePlus, Bikes for the NHS and Bike2Work Scheme.
All of our staff are trained in how the cycle to work scheme works and will be more than happy to help you with any queries you may have. All products can be supplied through BroadribbCycles.co.uk or any of our Broadribb Cycles Stores.
5 simple steps to get you on your bike with the Cycle to Work Scheme...
The usual process from start to finish is as follows:
- Get a quote - visit any of our shops and we can build up your requirements on a formal quote for you. Alternatively start your search by clicking here, drop the bike, any accessories and the clothing you will need into a basket on our website and bring it in, or email a screenshot of it to firstname.lastname@example.org. Remember to add your name and contact details! We will send you back an official quote that you can use to apply for the scheme.
- Request your voucher/certificate with our quote - your employer will be able to instruct you how to request your certificate, as its dependent on which cycle to work scheme provider they have set up with.
- Wait for authorisation - your employer will work behind the scenes with the cycle to work scheme provider to authorise your application.
- Receive your voucher/certificate - you will receive a certificate via email or post which confirms that you are able to collect the bike you have chosen. Once you have received this forward it on via email to us along with a copy of your photo ID.
- Await delivery or arrange to collect in store - as soon as we receive the certificate we will process the information and send you your order. If you have selected to collect the order from one of our stores, a build charge may apply. You can read about the build charges on our Bike Builds page.
Bike Deposit Scheme
We operate an optional deposit scheme which ensures that the bike you have chosen is reserved for you until your voucher/certificate arrives. Whilst we process your application immediately, on average a cycle to work application take 2-3 weeks due to the admin between your employer and the cycle to work scheme provider, so we strongly recommend using this option. The deposit is refundable as soon as we receive your voucher/certificate.
Cycle Scheme Calculator
Use the calculator below to work out how much you could save by using the scheme, or drop us an email to email@example.com and we will get in touch to help you.
Due to admin charges that we are charged by schemes providers, all discounted products on our web site attract an 11% uplift in price. If the uplift increases the price above retail price, then we return the product to the original retail price. This does not apply to full priced products.
- A £600.00 bike discounted to £400.00 would attract 11% (£44.00) uplift to £444.00.
- The bike to work scheme savings would then apply to this price of £444.00.
- A saving of 32% or 42% can be achieved depending on whether you are a lower or higher tax rate payer, so the total saving from £444.00 would be as follows:
- Lower tax rate payer saves £141.69 and pays £302.31 from their wages
- Higher tax rate payer saves £185.97 and pays £258.03 from their wages