 Cycle 2 Work Scheme
The Government has a great initiative to help support employers and employees in providing tax free bikes both helping employees stay fit and healthy and helping the environment. Top Gear Ltd is a participating dealer and is only too happy to support you as an employee or a business in supplying a tax free bicycle.
How it works?
Your company just needs to sign up with Cyclescheme and get access to their online system. There is no charge for registering.
Employees visit Top Gear Ltd or browse our website, select the electric bike and equipment that they want and receive a quotation.
They then use Cyclescheme's online tool to apply for your chosen package by entering the details online and requesting a secure voucher.
Cyclescheme confirms eligibility and approves the request.
Cyclescheme will send the employer an invoice for the bike package, and a hire agreement is sent to the employee.
Once paid for, the secure voucher is sent to the employee.
The employee contacts Top Gear Ltd in Mountsorrel to arrange collection.
The employer reclaims VAT in the normal way and the balance of the bike is deducted via salary sacrifice.
At the end of the hire period, the employee has the option to own the bike by paying a Fair Market Value payment to make the bike fully theirs.
On a bike that is in average condition after 12 months this can be as little as 5% of the original cost.
This is a fantastic opportunity to own a brand new electric bike, at a vastly reduced price and spread tax free over 12 months.
If you want to know more, simply contact one of the team at Top Gear Ltd or take a look at the cyclescheme.co.uk website.
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Cycle 2 Work Scheme
