Climb On Bikes has developed an exciting new partnership with the Green Commute Initiative https://greencommuteinitiative.uk/
As part of the Government’s Green Transport plan, the Green Commute Initiative provides massive tax savings to UK employees who skip cars and public transport. High quality electric bikes are available under the scheme, which sees employees pay for the bike from their gross (pre-tax) salary – saving most of us between 32-42% off retail price.
Getting your bike is simple, your employer will provide you with a voucher to hire a commuting package of your choice. The package can contain an e-bike or an ordinary bike as well as safety equipment, clothing and accessories, tools and spares. The cost of your voucher is repaid via salary sacrifice. Depending on your tax rate, you’ll save either 32% or 42% on the cost of the package.
Because the salary sacrifice period is independent of the hire period, depending on your employer, you can normally choose 6, 12, 18 or 24 month periods. So you can afford a really decent quality e-bike.
Find out what you can save https://greencommuteinitiative.uk/savings/
Just Another Cycle to Work Scheme?
Unlike cycle to work schemes, the Green Commute Initiative doesn’t have a £1000 limit. This means any bike is available – all with the same savings. We know that a lot more people would get out of the traffic, stop relying on buses and travel on two wheels if it wasn’t such hard work to cover big distances – especially carrying luggage and without arriving flustered. That’s where an affordable electric bike comes in.
Keen cyclists who’d rather not have any electrical assistance, you’re in luck. The Green Commute Initiative is open to you too – we really mean any bike.
Any Other Differences?
There is no ‘End of Scheme Fee’ as charged by most cycle to work providers. When the initial period ends, the Green Commute Initiative lend the bike to you for free under an extended hire agreement. They also appoint you as their agent to dispose of the bike to a third party of your choice at the end of the free loan. This transfer can’t happen automatically so, in order to comply with legislation, this arrangement costs the employee £1.
Benefits for Your Employer
Organisations who sign up are already reaping rewards – and not just with a happier, healthier workforce who need fewer parking spaces. Employer’s National Insurance (currently 13.8%) reduces in line with the employee’s salary sacrifice. This means the cost of financing the purchase (rather than buying the bike outright) is still outweighed by the employer’s savings through running the Green Commute Initiative for their staff. There aren’t any other fees for the employer to pay.