Here's an example of how Pedal2Work helped 'David'. He is a company employee and pays tax via PAYE.
David's chosen Pedal2Work package
Commuting Bike - 500.00
Helmet - 30.00
Lights - 10.00
Reflective Jacket - 60.00

Total price before savings: 600.00
Healthy Living..
Cycling is recommended
by the NHS as part of active living.

Look Better...
Cycling uses fat for fuel. Your work journey will help you lose weight.
 
Explanation and Savings made using Pedal2Work
1. Under his employer's Pedal2Work scheme, David chooses to have the loan of a bike and accessories retailing at 600 - (500 bike, 30 helmet and 70 of safety related accessories)
2. This net amount is met by David agreeing to a salary sacrifice whereby his gross pay is reduced by 50.00 per month over 12 months
3. The monthly net cost to David will be 34.00 because he doesn't pay tax or national insurance on the gross pay (50.00) that he has sacrificed
4. At the end of the 12 month period David's employer offers the ex-loan bike for sale at a fair market price. Guides for this are available on the HMRC website.
5. The cost to David is:
- Net salary given up 34.00 x 12 months = 408
- Total saving to David = 192

 
Total saving to David: 192 - 32%!

The actual discount available to an employee will be based upon their own personal tax circumstances (higher tax payers get higher discounts)
In rare cases, where employers decide to directly bear all scheme costs themselves, employees need no budgets at all, with the full cost of their loan bikes then legally treated as 'non cash tax free benefits'.

 

Feel Better....
Exercising, especially outdoors, boosts your immune system.

Alertness......
Riding to work will help you become more alert, ready to accept the challenges of the day.
Pedal2Work is a division of South Downs Bikes Ltd. With many years of experience in the bike trade they have an excellent reputation for friendly, personal and efficient service. Dealing with bike experts will give you the confidence that you will be purchasing the right package for your needs, something you will really enjoy using.
*Savings are affected by a company’s tax status, finance arrangements and your personal level of taxation. Pedal2Work, South Downs Bikes Ltd, The Forge, 38 High Street, Storrington, RH20 4EE