Save up to 50% of the cost of your electric bike

"The Cycle to Work Initiative saves employees 30-50 per cent of the total cost of a bicycle and accessories. The company buys the bicycle for you and then leases it back to you, usually for 18 months. At the end of the lease period you buy the bicycle for about the cost of one month's lease. The employee saves money by not paying any VAT and as the repayments are taken out of the gross monthly salary, a further 22% in income tax and 11% NI contributions are saved."
The Observer newspaper

Why not let your employer share the cost of your electric bike? We've sold many bikes through this scheme. Here are three ways your employer can help you cycle to work:

1 Through a company called Cyclescheme. This is how most customers end up cycling to work under the scheme. Ask if employer is using the scheme - if they are, you will be given access to a form like this through which you can request a voucher to use as payment.

2 Alternatively, your employer can deal with 50cycles directly and administer the scheme themselves. More and more employers run this salary sacrifice scheme in-house. You choose the bike you want and we send an invoice to your employer, who does the rest.

3 You can purchase any of our bikes through any Halfords store under their bikes4work scheme.

4 There is also another way to spread the cost of your electric bike, through our interest-free and classic finance payment packages.

Here's an example of how it works for our popular Kalkhoff Agattu

Cost of bicycle £1350.00 inc. VAT RRP

Maximum amount covered by scheme is £1000
You pay the difference, £350 to cover batteries, delivery

Leaving £1000
Less VAT (£148.94)
Net Cost £851.06

18 Monthly lease payments of £47.28 = £851.06
Less employees NI contributions @ 11% = £140.42
Less employees Income Tax @ 22% = £280.85

Total Cost of bicycle over 18 months: £429.79 + £350 = £779.79
Total saving: a whopping £570.21 on £1350 (about 42%)!

If you are on a higher tax band clearly the savings could be greater . The initiative will not affect your pension.

If you're interested and think you will be eligible (most employees are), please use the form and we'll contact you as soon as possible:

Or you can contact Lloyd or Tom on 0844 800 5979 or by email

NB All bikes sold under the cycle scheme are sold at list price - discounts do not apply as we are charged a significant commission by the scheme operators.

The DfT's information page has all the detail relating to the scheme and how it should be run.