Tax Free Cycle is a service offered by CycleSurgery that makes implementing your Cycle to Work Scheme quick and simple, while complying with all updated HMRC guidance.
Tax Free Cycle allows you to Hire the bike and safety equipment from your employer and pay the hire cost from your gross salary (rather than your net salary) over a set hire period, allowing you to save Tax and National Insurance, as well as spreading the cost. At the end of the hire period your employer may choose to transfer the ownership of the bike to you, for an additional payment of the fair market value.
Tax Free Cycle is a free of charge service to use, and offers you the best bikes and accessories from the worlds leading brands!
It couldnt be easier! Register today and start making savings on a new bike! Start feeling the benefits of cycling to work!
Employees save 32-42% in Tax and National insurance (depending on their income) compared to paying the hire charge out of their net earnings. NB: The overall saving is reduced to 10-20% if the bike is offered for purchase, and the the offer taken up, after the hire period.
Choose your bike and safety equipment
Spread the cost
Enjoy the benefits of cycling
Employers save money by running the scheme