Cycle to Work Scheme
Cytronex electric bikes are designed to provide a viable and convenient alternative to the car for shorter journeys so the Cycle to Work Scheme fits our green ethos perfectly. This scheme provides tax advantages for employees wishing to commute by bicycle (or electric bicycle) and employers who set up the scheme.
It applies to both bicycles and safety equipment up to a maximum value of £1,000 - unless your employer holds a Consumer Credit Licence. So we can sell the bicycle or ebike to your employer, and you purchase a Cytronex Accessory pack, which is fitted to the bike (the packages are only available together).
Electric bicycles are a great way of getting to work and we think a Cytronex powered bike is the perfect commuter bicycle.
The employee saves VAT, Income Tax and Employee’s National Insurance on the value of the bike. Basically you get your bike tax free.
The employer saves Employer’s National Insurance on the value of the bicycle or electric bike and of course is providing a valuable service to their employees at no additional cost (as well as helping to ensure a healthy workforce!).
This can mean very large savings indeed!
It is a condition of the scheme that the employee agrees to use the bicycle mainly for commuting (at least 51% of its use). Travel from one work place to another and to and from a train station as part of a journey to work also qualify.
In summary we believe the Cycle to Work scheme is an excellent green initiative which results in a happier, healthier workforce!
Full details of the scheme can be found on the government site at the following link: Department for Transport information
Please note that the above information represents the current understanding of Modern Times Ltd concerning the UK Cycle to Work Scheme. Modern Times Ltd accepts no responsibility for the accuracy of the information provided and accepts no responsibility or liability for the terms and agreements involved or the further administration of the Scheme.