Save up to 42% on your electric bike with Green Commute Initiative cycle to work scheme
Electric bikes are incredibly useful but they are often more expensive than traditional pedal cycles. Fortunately, help is at hand from the Government-backed cycle to work scheme. It helps reduce and spread the cost of electric bike ownership. You'll save of up to 42% if you're higher-rate earner!
Cycle to Work Schemes for Electric Bikes
Cycle to work schemes have been running for years but most place a limit of £1,000 on the electric bike you can buy.
It is possible to pick up a new e-bike for £1,000 (or less) but it probably won't be up to the task of transporting you to and from work every day. Bikes get a lot of wear and tear and some types of electric bikes are more resilient, more reliable and more comfortable than others. Cheaper electric bikes can sometimes look a little weird too.
The best electric bikes are reliable, quiet and hide their battery and motor very well - the casual observer might not even spot that your e-bike IS electrically-assisted.
Extra help from Green Commute Initiative
So what if your heart is set on an electric bike that costs more than the £1,000 cycle to work scheme ceiling?
Green Commute Initiative (GCI) offer cycle to work with no limit onthe cost of the e-bike you want to buy while still spreading the payments via salary sacrifice, saving you up to 42% of the price in reduced tax!
What you need to qualify
- UK Resident
- Must be employed and on PAYE (including directors & owners on PAYE & dividends)
- Minimum wage employees cannot sacrifice salary that takes them below the minimum
- No income tax is payable on the full price of the bike
- The Government help with the purchase of the bike
- You pay for the bike out of your monthly gross salary
- If you're a lower rate taxpayer you'll save 32%
- If you're a higher rate taxpayer you'll save 42%
- Quick to arrange and you can from 50cycles electric bikes with GCI
If you already own an electric bike this cycle to work scheme is great for upgrades as well, with no £1,000 limit to worry about.
Try GCI's Savings Calculator
GCI's handy calculator below displays savings based on the price of the bike and your income.
If you like how the numbers stack up, please contact us via our website or call 0333 900 5050 now and we'll do the rest!
To learn more and to purchase a bike through the Green Commute Initiative, please call us on 0333 900 5050 or contact us via our Live Chat system or schedule a free call back