Cyclescheme no longer has a limit! This means you can save money on everything you need. Go for a bike, a bike and accessories, or just accessories – it’s your choice!
At MULE we support several of the best cycle to work scheme providers.
Simply come in to see us, choose your equipment and we will give you a quote or invoice for your employers cycle to work provider.
This government backed salary sacrifice scheme is available to PAYE employees in the UK and is the most cost-effective way to get a bike. You can even get an e-bike to make your commute easier.
Save money with tax free bikes.
Cycle to work is a salary sacrifice scheme. This means the cost of a new bike and cycling equipment is deducted from your salary as a non-cash benefit, so you save on tax and national insurance. Your employer buys the bike for you to ride to work and you ‘hire’ it from them. The ‘hire’ period is usually 12 or 18 months with monthly payments taken directly from your payslip before tax deductions.
As you don’t pay income tax or national insurance on the scheme payments you will save between 32% and 42% (depending on your tax band) on the overall cost of your new bike and accessories. Although your employer owns the bike, effectively it’s yours to use as you wish throughout the ‘hire’ period.