Within the Government’s Green Transport Plan, there’s a tax exemption which allows employers to provide cycles and safety equipment to employees as a tax-free benefit. Technically speaking, employees actually hire the bicycles from you, buying them at the end of the salary sacrifice period for a Fair Market Value payment.
The cycle to work scheme gives your employees access to The UK’s best bikes and safety equipment with big savings on Tax and National Insurance. With the cycle to work scheme there is great national cover for employees to purchase bikes and safety equipment.
Sodexo Motivation Solutions has always been committed to a health centred ethos and has always endorsed a healthy work-life balance. With cycling being high on the agenda in the U.K at the moment, a commitment to the physical and environmental benefits of encouraging alternative transport to work can only be a good thing. The cycle to work scheme is not only beneficial to the health of the workforce, but, at a time when cash-strapped businesses are unable to increase salaries, it can provide a perfect tax-free alternative in employees’ flexible benefits package.
