Save up to 42% depending on what tax bracket you're in
Evans Cycles have changed Ride-to-Work scheme to remove the previous £1,000 limit on bikes and accessories when purchasing under this tax-free scheme.
>>> Government removes £1,000 limit on Cycle To Work scheme
They become one of the very first of the major bike chain stores to remove the limit.
Specialized Levo 2019 Electric Mountain Bike from £1,972
RRP: £4,000.00
Sale price: £3,400.00
Save up to an extra £1,428.00 using Ride-to-Work making this bike from £1,972.00!
Click here to read more about Evans Cycles Bike-To-Work scheme details.
What is Ride-to-Work?
The scheme allows you to repay on a bike, clothes, helmets, lights or any approved kit over 12 to 72 months, depending on your employer terms. You don’t even need to buy a bike. The repayments come before National Insurance and income tax, so you save up to 42% depending on what tax bracket you’re in.
Why the change?
The change has come around to give employees more flexibility in the bikes they choose, for example, in 2018 electric bikes sold 1 in every 4 in Germany. With the previous limit you wouldn’t have been able to purchase many electric bikes for less than £1,000. The new limit is set by the employer; however, Evans Cycles will be happy to advise on what limit would work best for your company.
How it works
- Your employer signs up
- Choose your new gear
- Get your certificate
- Collect your new gear
- Salary sacrifice starts