In a bid to encourage healthier commuting and alleviate environmental impact, the 1999 Finance Act introduced a yearly tax exemption. This initiative allows employers to offer tax-free benefits by loaning cycles and safety equipment to their employees. It was a pivotal part of the Government's Green Transport Plan.
If you choose to cycle to work, you can enjoy substantial savings of up to 42% on a new bike and safety gear through a government-backed scheme. This scheme operates on a salary sacrifice basis, wherein the cost of the bike and equipment is deducted from your salary as a non-cash benefit. This not only helps you save on taxes and national insurance but also makes purchasing a new commuter bike more affordable. Essentially, your employer buys the bike and equipment on your behalf, leasing it back to you through an interest-free salary sacrifice arrangement.
While most cycle-to-work providers limit purchases to £1000, we offer quotes for any value you desire.
Check out this Online Calculator to see how much you can save.
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At eBike-Centre, we are pleased to accept Green Commute Initiative cycle-to-work vouchers in our stores (please contact us if you prefer remote purchasing). GCI, a relatively recent addition to cycle-to-work schemes, aims to enable more people to acquire electric bikes through the program. Unlike older schemes with a £1000 limit, GCI allows cycle-to-work purchases above this threshold.
Although initially designed for electric bikes, many GCI vouchers we accept are used for conventional bikes. At eBike-Centre, you can use your GCI voucher on bikes from renowned brands such as Trek, Giant, Specialized, Gazelle, Focus, Kalkhoff, Raleigh, and more. The tax savings can also be made on safety equipment like helmets, lights, and locks alongside your bike.
Unlike most cycle-to-work schemes requiring company enrolment, GCI allows companies to sign up or issue one-off invoices for specific purchases. If your company's scheme has a lower limit, GCI can still be utilised to purchase an electric bike.
Using a GCI voucher at eBike-Centre incurs no hidden charges or additional fees.
The GCI process involves applying for a specific bike through your company, stating the chosen store upfront. After approval, GCI sends you a voucher. Present the voucher and your ID in-store, accompanied by a security code provided by GCI for added security. We typically check and reserve the chosen bike early in the process so you can collect it promptly upon receiving your voucher.
For inquiries about the GCI cycle-to-work scheme, contact us at 01243 697547 or sales@ebike-centre.co.uk.
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In addition to GCI we also accept vouchers from the major Cycle to Work providers, including Cycle-Scheme, Cycle2Work, Halfords, Vivup, and Cycle Solutions.
The process varies slightly from scheme to scheme. Essentially you pick a bike and tell your employer how much it costs. They will give you a voucher for the amount. You provide us with the voucher, and we will provide you with your new bike.
If you already have a voucher, just email it to sales@ebike-centre.co.uk and tell us what bike and accessories you want; confirm your delivery address or in-store pick up.
Purchasing a bike with a Cycle to Work Scheme couldn’t be simpler.
Our dedicated team is always on hand to help – any questions – simply call us on 01243 697547, and we will be happy to help.
