Cycle to Work Scheme
The Fair Care Cycle to Work Scheme is a simple, fully-outsourced solution for employers who wish to implement this valuable benefit. Huge savings, of up to 50% of the retail price of bicycles and accessories are available to participating employees. We can operate the Scheme using a variety of retailers, individually or in combination, giving maximum choice.
The 1999 Finance Act introduced a tax exemption which allows employers to provide employees with bicycles and accessories as a tax-free benefit. The Cycle to Work scheme is part of the Government's Green Transport Plan, promoting healthier journeys to work and reducing environmental pollution.
Operating via salary sacrifice, payment for the bicycle by the employee is by way of deductions from gross pay, typically spread over 12 months. This gives rise to tax and National Insurance savings for the employee and National Insurance savings for the employer too.
As an experienced provider of cycle schemes, Fair Care has an enviable reputation for effective implementation and hassle-free administration.
We offer two distinct approaches to the scheme, depending on the size of your organisation:
Cycle To Work Scheme - suitable for most organisations, we provide a fully outsourced service with tailored communications and marketing material branded with your company's logo. We arrange on-site launches and presentations, and also provide comprehensive payroll and administration support for the life of the scheme. Typically launching once or twice a year, with a 3-4 week window for applications.
Cycle to Work Instant - aimed at smaller organisations or employers who want to enroll individuals on an ad hoc basis (maximum 5 applicants at any time). All the relevant documentation is prepared and the cycle vouchers are issued within 24 hours. Payment is required by debit or credit card.
For more information on how the schemes operate, please download the appropriate employers' guide, or contact us.