Cycle to Workis a tax incentive aimed at encouraging employees to, cycle to work, thereby reducing air pollution and improving their health.
The scheme allows employees to benefit from a long term loan of bikes and commuting equipment such as lights, locks and panniers completely tax free.
Employers benefit from fitter, more punctual, more wide-awake staff. Employees benefit from better health and better bikes because their money goes further.
With a budget of, say £400, an employee in the high tax-band can now afford a bike, plus accessories, worth nearly £800.
GREEN TRAVEL
Worries about climate change, a planned lack of parking spaces at hospitals and new-build company HQs and other 'sticks' is making major employers take a long hard look at the 'carrots' on offer when formulating ‘Green Transport Plans’.
Car-sharing is one option, but cycling to work is another.
And to encourage cycling to work, the government created a little publicised incentive in 1999 to encourage employers to help their employees acquire tax-free bikes. In 2005 this scheme was re-branded as Cycle to Work.
Employers can loan bicycles to their staff as a tax-free benefit on the condition that the bicycles are mainly used to get to and from work or for work-related purposes. The employee ‘buys’ the bike at the end of the load period for a nominal sum.
Crank it Up can offer Companies various sessions ranging from bike try out whereby Crank it Up bring along a range of bikes for employees to try out to see what they prefer, on road cycle training to National Standards, loan of bikes for employees to try cycling to work, inspection of employees bikes to ensure that they are safe to cycle to work. We can also offer support services, if an employer wants to run a weeks “Bike to Work” Crank it up can offer full support.
Please contact us for more details on the Bike to Work Scheme. |