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Here at Hot Pursuit Cycles we are happy to be a partner of the Cycle Scheme.
Welcome to Cycle Scheme, the UK’s number one provider of tax free bikes for work through independent bike shops. We pride ourselves in giving you the best service available with the minimum of administration. Our scheme is run in strict accordance to the government’s green travel plan and conforms to the requirements of the HMRC, OFT and DfT. We also provide hire agreements for employees and a free secure website for certificate processing. This extranet site is password protected and enables you to manage employees’ applications with the click of a mouse.
You sign up with Cycle Scheme; you're given access to our online system.
Employees visit one of over 1,600 participating bike shops to select the bike and equipment that they want; they will be given a paper quote. They use Cycle Scheme's online tool to apply for your chosen package by entering the details online and requesting a secure certificate.
Once an employee requests a secure certificate, you confirm eligibility and approves the request. Cycle Scheme will send you an invoice for the bike package, and a hire agreement is sent to the empoyee to sign.
As soon as the bike is paid for, the secure certificate is sent to the employee.
The employee contacts their chosen bike shop to arrange collection.
You reclaim VAT in the normal way (if applicable) and the balance of the bike is deducted via salary sacrifice. At the end of the hire period,the employee pays a Market Value payment to make the bike theirs. Cycle Scheme can collect this payment for you.
Yes. 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. Cycle Scheme will collect this Fair Market Value payment for you, and we can also offer highly competitive finance packages from well known providers.
The employer buys the bikes and safety accessories at full retail price, including VAT which is reclaimed in the normal way, if applicable. The balance is recovered from a reduction in the employee’s gross salary, and employers also benefit from National Insurance contribution savings. The net result? You save money on every bike you process through the scheme!
Our secure checkout service is provided by Sage Pay Europe Limited, who use a
128 bit Thawte Secure Socket Layer to ensure secure transmission of your information.