Primera Sports are one of the largest Cyclescheme partners in the UK providing tax free bikes for work.
WE TAKE MOST VOUCHERS – EVEN IF THEY ARE MADE OUT TO ANOTHER SHOP
Wherever you live in the UK can we can supply you with a bike on the scheme.
Cyclescheme is working with a network of independent bike shops to supply the nation with quality tax free bikes and equipment for work. We have a wealth of experience organising no-hassle tax free bikes for employees. Hundreds of companies of all sizes have already benefited from our easy-to-follow system!
All you need to do:
- Find out if the company you work for are signed up for the cycle to work scheme.
- Choose the bike & accessories that you would like and we will fill out the relevant paper work.
- Pass the paperwork onto your employer who will, once authorised, present you with your cycle to work voucher.
- Come in and collect your new bike.
- Cycle to work with a smile after saving £££’s
We stock all major brands with hundreds of bikes in stock.
If you have any kind of voucher call 01202 775588 and we will advise you on what we can do for you!
Who can get a bike?
Employees paying PAYE, who have a contract that outlasts the duration of the salary sacrifice period are eligible, provided they are over 18 years old, earn more than the National Minimum Wage after the loan repayment has been deducted, and have completed the employer’s probationary period (if applicable).
What is salary sacrifice and how are savings made?
With salary sacrifice, you pay back the loan on your bike, accessories and safety equipment from gross rather than net pay for the hire period (usually 12 months), allowing you to benefit from income tax and NI relief. See www.hmrc.gov.uk/specialist/salary_sacrifice.pdf for a more detailed explanation.
How much can I save?
Typical savings are between 30% and 50%, but the actual amount you pay depends on your personal tax band, and the way your company runs the scheme. Higher rate taxpayers will save more, employees whose company cannot reclaim VAT (the NHS, for example) will save less. If the employer uses external finance (ie your employer borrows the money to buy the bikes from an outside) then savings are normally about 5% lower. Finally, the fair market value payment needs to be taken into account when calculating the total savings.
Can I get any bike?
You can choose any bike, including electric bikes, providing your chosen Cyclescheme partner can supply it. Some bike shops may add an administration fee to quotes for custom bikes because the profit margins are lower than those available on standard, mass-produced models. If your employer wants to supply bikes costing over £1000 (retail price including VAT) then they will need a Consumer Credit Licence, and this costs £725, so many employers limit the package value to £1000.
You can also now use the cycle scheme, for new or existing customers, on safety equipment each year if you already have a bike and do not require a new one. This includes items such as helmets, clothing, shoes, racks, bags, lights and other safety gear, up to £1000.
Smile as you ride after saving up to 40% on your new bike – Call for more info
We are the main Cyclescheme partner in Bournemouth and Poole. Cyclescheme in Bournemouth for NHS, Halfords Vouchers, Evans Vouchers, Police Force, Fire Service, British Rail Cyclescheme, JP Morgan plus many more Cycleschemes.