Victims of wages are those when a worker agrees to give up part of his pre-tax salary for a benefit from his employer, in this case the rental of a cycle and/or cycle accessory. Since part of the salary is abandoned, the worker pays less taxes and social security contributions on the amount sacrificed. Yes, yes. However, by signing the lease, you are solely responsible for the equipment delivered and responsible for the appropriate insurance of the equipment for their use. The extended rental agreement you must sign provides that it is your responsibility to ensure that the bike and equipment are maintained and used safely. Of course, the idea is that it is used to „promote healthier commutes to work and reduce pollution,“ so the obvious goal is to use it as part of your commute to work. No no. The scheme works because it`s your bike and you drive it to work (which generates your tax break) – you can`t have a bike for someone else. Cyclescheme is no longer limited to US$1,000.
Future commuters can now save the bike, components and accessories needed to get to work by bike. Their usefulness for the work cycle is therefore more relevant and accessible than ever! Technically, you can also buy two bikes as part of the program: one from home at a train station or other public transport, the other to get to work. You can order your bike and bike gear online, call our helpline on 0330 100 2480 or send the order form accompanying your option brochure: Under the new guide, FCA authorized employers can continue as they are or switch to Cyclescheme Authorization. Migration to cyclechemical authorization can reduce costs, as it would not be necessary to maintain your own authorization (if it is used only for a cycle of more than 1,000 USD for work). You will then receive a rental agreement with an explanatory cover letter with the following steps. A basic rule that the Department of Transport asks you to stick to is that 50% of the use of the bicycle is used for a work-related trip. This means that if you use the bike 15 times a year, about 8 of these trips should be related to your work or work journey. Of course, this is only an approximation – if you drive 4 days and weeks at work and cycle in the evenings and on weekends, that`s perfectly normal. The idea behind the program is to create enthusiastic cyclists and not penalize those who live in the saddle.
The „Work Cycle“ programme has saved more than 1,000,000 people across britain money for a bike and/or accessories they can use to work on bicycles. To join the cycle work program, your employer must register to join Cyclescheme. Since it has been set up to encourage work trips and not generally for cycling, your employer technically remains the owner of the bike once you have completed the rental time. Cyclescheme is a founding member of the Cycle to Work Alliance (CTWA). The Alliance`s campaign for the inclusion of cycling and its work helped update the guidelines.