Licensed to buy a new bike!

My employer announced today that it has signed up to the Government’s Cycle to Work scheme.

This basically means that I can get up to 50% off the cost of a new bike as part of the scheme, which gives tax relief on up to £1,000 of cycling equipment.

The amount I choose to spend on a new bike is then deducted from my gross salary via a 12 month salary sacrifice.

Given that I am in the market for a new bike and wouldn’t mind spending a few bob, this is pretty good news in my books!

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9 thoughts on “Licensed to buy a new bike!

  1. I stumbled upon this site as I was in the process of doing some online research. Cycling is the only way to go to beat gas prices and if more employers in more countries gave incentives it would also cut down on pollution.

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  2. That is SUCH a cool program! I wish they had it in the “other” London (Canada). Alas, they do not. But I’ll still be loading up my beloved Specialized StumpJumper Comp tomorrow morning and hitting the road.
    Commuting to work, even when I have to pay for the bike with all my own pennies, is still the greatest way to go.

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  3. Awesome plan! Wish Canada had something similar.
    Incidentally, you ever seen the British (London) guy’s blog who’s campaigning to get cyclists OFF the road? He got hit once and now he’s trying to convince all cyclists to quit riding.
    Couldn’t believe it as I scrolled through his blog.

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  4. BikeProf, it’s a great scheme, but typically dogged by overwhelming paperwork as I am slowly discovering. I think this is a peculiarly British disease — they take the simplest idea and then complicate it. Grrr.
    Tuco, no not heard of that blog, and not sure I want to! Although, to be honest, the way some cyclists behave on the roads I am not surprised that we are enemy number one as far as most car drivers are concerned.

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  5. Can you convince my employer to do this? I’ve been hounding him for months before finally giving up and upgrading the parts on my present bike.
    I’ve heard if you do it through one of the cycle shops, they carry out all the admin work, don’t know if it’s quicker but it cuts down on paperwork.
    Excellent Blog btw.

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  6. Ludwig, it seems my employer is playing ‘funny buggers’ with this scheme and I am currently embroiled in an email war with my HR Dept, who are doing everything in their power to make the whole thing unworkable. But perhaps that will be the subject of a future post.
    Thanks for your compliment on my blog. I’ll be sure to come visit yours soon.

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