Tax-free bikes for work

GA Cycles operate all 3 of the major bike to work schemes backed by government funding to offer you savings on a new bike purchase of up to 50% depending on the scheme you choose 

Cyclescheme

Bike2work

GA Cycles have developed the Ride2Work programme to help you take advantage of the benefits of the Green Transport Plan. Through the GA Cycles Ride2Work programme we can supply bikes via your employer with massive savings!

GA Cycles Ride2Work

We'll take care of everything: the bike, the accessories, the servicing, the advice and of course the paperwork.

By partnering with GA Cycles your company will have access to the best range of bicycles and cycling accessories in the UK, plus the specialist knowledge and advice needed to ensure you take full advantage of the incentives on offer and get the most out of your cycling.

Dealing directly with us as the supplier we can offer not just all the advantages of the cyclescheme, but also in many cases we can offer savings. Company's who are not VAT registered we can help, and have done on many occasions. For more information please contact Gary or Matt who can taylor a package to your requirements

 
Please note that this is only available to UK tax payers who pay PAYE. Self-employed workers cannot take part in this scheme.

We regret that this scheme cannot be combined with sale/offer cycles

Is there a credit check?

This scheme involves an agreement between employer and employee through salary sacrifice; although a credit agreement is signed no credit check is required.

How does the scheme work?

If you are a higher rate tax payer for example. Choose a bike and accessories worth £500, you enter into a Hire Agreement with your Employer, who then deducts payments from your gross salary over a 12 month period. This is known as a salary sacrifice. You will see the deduction in the same column as your Tax and NI contributions on your PAYE pay slip.

The above example for a higher rate taxpayer shows savings of over 50%, a standard rate (22%) taxpayer would pay £285.13, saving around 43%. A final payment to transfer ownership from company to individual has to be made at the end of the hire period. This cost has been deemed as a fair market value and as such cannot be valued till the end of the period, in many cases this has been suggested as 5% of the original total value.

What is salary sacrifice?

Salary sacrifice happens when an employee gives up the right to receive part of their cash pay due under their contract of employment in return for a non cash benefit, which in this case is up to two cycles and safety equipment of choice.

What if I leave before the end of the Agreement?

If you leave during the term, any outstanding monies owed should be taken from your final Net salary however if this is not sufficient to cover monies owed, you will be required to pay your employer any outstanding money by cheque / cash within a specified period.

Who is responsible for insuring/maintaining the bike?

It is the responsibility of the employee to insure and maintain the bike. We strongly recommend that it is put on your Household insurance, do check what is and is not covered. However there are specialist insurers available that in many cases offer a more comprehensive policy.

Who does the bike belong to at the end of the 12 month period?

 For a final value sum the bike and safety equipment can be purchased from the Company at the end of the Hire period.

How do I take part in the scheme?

   * Simply visit  GAcycles store or website, choose your cycle and safety equipment and we will supply you with a written quote for your employer.

   * You then sign a written Hire Agreement for 12 months with Your employer specifying the salary sacrifice to be made. This is regulated by the Consumer Credit Act 1974, and is non cancellable.

   * Once payment has been made by the employer, GA Cycles will contact you when the cycle is ready to collect/ alternatively a third party provider may send a secure voucher.

   * Deductions are then made from your gross salary by your employer over a 12 month period.

   * If you're employer isn't registered or you are unsure then please contact us.

Is there a price limit that can be spent?

Under this Initiative the Government has provided a blanket Consumer Credit License to all participating Companies, allowing purchases for any one individual up to £1000. Should the Employee wish to spend above this limit then the Company will require its own credit License.Once your Employer has signed up to a cycle scheme, getting a cycle and saving money couldn't be easier.