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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.
Reviews 962
Zakaria Sharif
Oct 02,2019Quick responses, always up to date.
Andy Dunnachie
Oct 02,2019A1 service,got just what I needed
Nick
Oct 02,2019Smooth and easy process - pleased with new bike and cutting my commute time by 25%!
Martin edwards
Oct 02,2019Great experiences and quality bike
Matthew Markey
Oct 02,2019Great scheme to get you active with the benefit of financial savings.
ELLIOTT DAVIDSON
Oct 02,2019Good scheme, but hidden charges at the end
Justin Smith
Oct 02,2019Great service...
Mark Chaplin
Oct 02,2019Good value. Would have liked the certificate to be emailed as had to wait for a week for it to come through the post but still well worth it.
Petri
Oct 01,2019Cyclescheme works OK but there are other options which are better for you and the shops selling e-bikes. I've used Cyclescheme to buy one e-bike, which ended up falling apart just after one year, so I didn't save much in the end. Partly the reason for this is that Cyclescheme requires you to pay an additional 7% of the total price after the one year hire period so the tax reduction will be smaller than it first appears. 7% comes from the HMRC valuation where the bicycle is estimated to have 7% value left after 4 years when it finally becomes officially yours. I suggest looking at the Green Commute Initiative (GCI) instead. It will take 5 years and 9 months before the bicycle is officially yours, but you only have to pay £1 more (again HMRC value estimation). For the cyclist, the difference how long it takes to really own the bike doesn't make a difference in most cases. There is also a high probability that the e-bike battery reaches the end of its lifecycle in 4 years and it's not guaranteed that you can find spare parts, which means that the value of the initially expensive e-bike is practically zero. There are other reasons for going with GCI. They don't have the £1000 limit so you can buy a decent e-bike with a great discount. In addition, their commission from resellers is less than half of Cyclescheme's, so your purchase helps to keep the local bike shops in operation. Without local bike shops, there will be nobody to service our e-bikes! Cyclescheme is clearly a great business - both the cyclist and the reseller pays them, total in about 17% of the price of the bike. No wonder it is one of the fastest-growing businesses in UK. Ps. I have no connection to Green Commute Initiative, feel free to do your own research before making the decision.
David Roberts
Sep 01,2019This was a seamless process. From submitting the application to collecting the bike took a couple of days. Making a saving of over 30% on the retail price and paying off in monthly instalments. I'm amazed that more people who have this opportunity don't take advantage of it.
Robin Dixon
Aug 28,2019the function of buying a new bike was such a great experience using the Cyclescheme process. I've not bought myself a new bike for many years so I really, really appreciate this brand new bike not only to get me to the railway station on time, but also to ride on the weekends to get fit. Thank You
Nigel Mellor
Aug 28,2019Easy to follow application for myself and my employer. Constantly kept updated with the application and the process was completed sooner than expected 10/10
Michael Mageean
Aug 28,2019Great system; took a bit of time to get the certificate but all in all a great service
Ashley Gant
Aug 28,2019Very easy to use and a quick decision on my application. Communication from both the scheme and my cycle provider was excellent.
Jamie Mord
Aug 28,2019Great scheme help me out to get to work everyday and fast and easy to apply that’s if your work on the cyclescheme thanks
james cobb
Aug 28,2019you don't really save any money. would of worked out cheaper getting 0% finance
Charlotte Long
Aug 28,2019Can't recommend this enough!
Kevin N perry
Aug 15,2019A bit pointless ...the employer has to buy the bike but small business might not be able to afford to loan money...so if you want to be fit and ride to work you have to save and buy your own bike which is fair but the scheme should do more for people on low wages or small companies
Duncan
Aug 05,2019Really, Really Good
Cyclescheme Ltd, PO Box 3809, BA1 1WX, Bath, GB
http://www.cyclescheme.co.uk
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Craig Warren
Oct 02,2019Good service. Had to chase a little to see where things were but overall pretty simple scheme to use