Yes - Electric bikes are eligible for the Cycle To Work Scheme government initiative in the same way normal bikes are.
Want to know more? Here's some background and FAQs to the Cycle To Work Scheme that you might want to check out before going ahead.
What is the Cycle To Work Scheme?
It's a government incentive that lets you make significant savings on buying a new electric bike and accessories by paying through tax-free salary sacrifice.
This means the price of the bike and accessories will be deducted from your salary before tax and national insurance is applied - depending on your tax rate you can ultimately save between 25% and 42% on the total cost of the bike. Higher rate tax payers save the most.
Before you buy a bike with cash or credit ALWAYS check whether you qualify for the scheme.
How does it work?
Your employer pays for the bike and you enter into a hire agreement with your employer (usually over a period of 12 months but it can be up to 48 months). The cost of the bike is split over this period and you pay for it via your PAYE. At the end of the hire period ownership is transferred to you.
The process for buying a bike is quite simple. If your employer is signed up to one of the schemes on our C2W page, we can help! Check out the savings calculators to see just how much you'll save.
Step-by-step Cycle To Work Scheme process
Here's an overview of the steps towards how you get your hands on a shiny new electric bike through the C2W scheme. Please note that depending on the particular Scheme you choose (Green Commute Initiative or Cycle Scheme) the application process is slightly different. Just a heads up!
Here's how it works:
- Check what the price limit your employer offers. (It's usually £2000 but can be much higher).
- Choose your bike and accessories for the wide range we offer and email us at email@example.com and we will send you a quotation. See "How do I Get A Quote From You" in the FAQs for full details.
- Apply for your Cycle to Work voucher via your employer.
- Your Cycle to Work voucher is issued to you.
- Redeem your voucher with us for a new bike and accessories.
- Ride off happy knowing that you've got a small win over the government.
Sound good? What are you waiting for! If you ever need help from us, then don't hesitate to get in touch via firstname.lastname@example.org.