What is Cycle to Work?
The Cycle to Work scheme was introduced 20 years ago as a government initiative to get more people out of their cars and cycling to work instead.
The scheme allows employees to save money on their bike and cycling gear by purchasing it through their employer from their pre-tax income. In short, this can mean savings of up to 43%!
The UK government has recently updated the scheme’s rules, making it clear that it can be used for bikes worth over £1,000, which most quality ebikes are.
Is your bike eligible?
Yes! If you are based in the UK and your employer is signed up with one of our Cycle to Work scheme partners (listed below), then you can save up to 43% on a FLIT ebike and related accessories through the initiative.
FLIT’s Cycle to Work Partners:
It’s worth mentioning that the GCI offers an Instant GCI option. With this option your employer doesn’t have to register with the GCI or any other cycle to work scheme, they just have to approve your application. If your employer doesn’t have a Cycle to Work partner, it may be worth chatting to them to see if this is an option. You can download the full employer briefing pack here.
Please note, for OUTLET bike purchases a cycle to work scheme admin charge of 10% will be passed on to customers unless otherwise stated.
How does the Cycle to Work Scheme work?
With the Cycle to Work scheme, you pay for your bike and cycle equipment in pre-tax monthly instalments. The amount that you save depends on the income tax bracket that you fall under – higher rate tax payers will save more.
Technically, the Cycle to Work scheme provider owns the equipment while you pay the instalments, and you are effectively ‘hiring’ it from them. Once you have paid the final instalment, you can either pay for the equipment at what HMRC deems Fair Market Value (this is 25% after 1 year, but only 7% after 4 years), keep the equipment on a free extended hire until it has no Fair Market Value (after 6 years), or return it to the scheme provider.
FLIT’s Cycle to Work partners
Click on each button to find out how to apply through each scheme for your FLIT.
How to use the scheme with FLIT
1. Check who your employer’s Cycle to Work provider is
Check your employer is registered with one of our partners: Green Commute Initiative, Cyclescheme, or Cycle Solutions.
If they’re not, we can send you information on how they can register – just email [email protected].
2. Check the details of your employers Cycle to Work scheme
Things to look out for are:
- Is there an internal spend cap? All of our partners allow purchases of over £1,000 – but some employers have an internal cap.
- What end of term options do they offer when your salary sacrifice ends? Some schemes require you to pay fair market value for your equipment at that point (usually c.7% of the original cost), while others let you have it for free after an extended loan that can last up to 5 years.
- What happens if you leave your current employer? You may not always be able to transfer your agreement to a new employer.
- What happens if the bike and equipment are lost or stolen? Most schemes require you to have insurance as they technically own the equipment until your agreement with them ends.
3. Choose your ebike colour & accessories, then request a quote from us
Choose your ebike colour, and any accessories that you’d like to add.
Email us at [email protected] with the following details to request a quotation:
– Your ebike colour
– Your chosen accessories
– Your Cycle to Work scheme provider
– Your full details (including first name, last name, shipping address, mobile phone number and your employer’s company name)
We’ll get back to you with a quotation so that you can start your application.
4. Apply for Cycle to Work
Contact your employer and make the Cycle to Work request through either the GCI, Cyclescheme or Cycle Solutions.
Once your application has been approved, you’ll receive a voucher/certificate/letter of collection to send to us so that we can process your order.
The process is slightly different for each provider (you can find out the exact process for each by clicking on the buttons above).
5. Start saving!
We will deliver your ebike, and you’ll start paying for it in monthly instalments (but with huge savings on income tax and national insurance!).