Tax is complicated; the cycle to work scheme is not. You choose a bike, hire it for an agreed length of time, then snap it up for a fraction of its original value. It's like a year-round sale, with interest free credit available in over 2,000 retailers nationwide.
With my employer joining the Cycle to Work scheme, I was able to upgrade my bike and since then, I've been cycling regularly to my office. The sign up process was really easy, and communication was great. I was kept up to date on a regular basis. Redeeming my voucher was easy as well.
Overall was happy with the service given. I spoke to some helpful members of staff over he phone who were able to answer all of my queries. The only thing I would have liked to have been informed of is was that suppliers have additional fees which aren't mentioned as part of the scheme. I was told by several suppliers that in order for them to make profit from the sale there is an additional cost.
Difficulty working out the numbers It was a bit confusing to start with how the amounts worked, eg, that you had to: 1. Go to the store, figure out what you want and get a price. 2. Submit that price and wait a few weeks for the certificate. 3. Return to the store and spend within £10 of the price of the certificate. I understand why it is this way, I just had to have a bit of back and forth to figure it out. Everything else was amazing!
It was simple and easy, very little hassle in terms of paperwork. And great to get a discount on a decent spec. bike that will help me ride to work regularly.
Smooth process and the retailer was excellent too
Profesional staff
Pleased with the size of the voucher being increased towards £10k. I'm unsure how much the end retailer actually receives post fees from Cyclescheme. It sounds like Cyclescheme takes a large margin - but isn't clear how much they receive, looks like 30% from their parent Blackhawk Network (UK) Limited's accounts...
I'd give 5 stars based on previous 2 bikes but last 1 not so much when i had an email saying i owed £203 to keep bike or pay £76 to keep for 4 more year. This is supposed to be tax efficient but the way this worked out id have to pay back 20% of what i loaned ie they wanted their vat money back! Never again. I'll just opt for 0% finance next time.
One of the greatest experiences I've had in the online market. Prompt contact, great customer service and everything done within days. Highly recommend:)
an excellent way to spread the cost of commuting to work. I cant recommend cycle enough. I have used the scheme for few years now, and never had an issue.
Very accommodating
Easy to use and very professional. Smooth from start to bike collection.
Very good range of products from sigma sports. Super smooth transition from cycle scheme.
Once I had found out my employer code it was plain sailing, it went through very fast, I didn't wait long at all for the certificate, and the cycle information provided was excellent, can't wait to use it again
All in all a really simple process and far easier than i was expecting.
a very efficient and worthwhile scheme
Very good digital experience. The only thing I didn't like is the scheme doesnt allow you to do purchases split across different suppliers
Easy to use and swift response
Easy to order. Great deal. The challenge is in getting my company HR & Finance to process the request in a decent time
Dilip
Mar 10,2020brilliant service from start to finish. I am now a cyclist.