Going to work by bike could become the new norm for many of us moving forward. With the gradual opening of workplaces and businesses along with the ongoing enforcers of social distancing cycling to work may be the most efficient and safe method in getting around town.
As we move towards July and British summer is upon us, there has not been any better timing than now to make the switch to cycling to work. The weather is expected to be pleasant and dry. The days should be long enough to allow you to cycle both ways in daylight.
If you’re willing to say goodbye to trains, tubes, or taxicabs for cycling, prior to investing in a new bicycle, be sure to check if your employer has an incentive program called the Cycle to Work scheme, an effective way of paying less for your new bicycle.
What exactly is the Cycle to Work Scheme?
In the end, it’s an incentive from the Government for more people to take bicycles, primarily for work.
It lets the buyer who is you, to pay for an upgrade to your bike through spreading out the price out over the months’ pay slips. This is the new purchase will be less expensive as the cost of the bike and accessories is made prior to tax.
Many companies offer the program however if your employer does not offer it, you should consider contacting their ear about it. Why? It could help your boss save money since they’ll cut down on national insurance costs for every employees who are part of the plan (13.8 percent of the value of the bike to be exact).
What can I do to purchase an exercise bike through the Cycle to Work Scheme?
Before doing anything else, confirm whether your employer offers the scheme. Once you’ve established that then you can begin scouring the more than 2,000 retailers who are part of the scheme to purchase that brand new bike , as well as any accessories.
If you’ve located the bike you’re looking for Contact your HR department to request an acknowledgement of the value of your purchase . This is what you’ll give the shop owner to pay.
In the next few days you’ll see the deducted from your gross earnings on your pay slip. Most of the time, this will be for 12 months, but certain employees might permit you to pay over a longer time. In this period the employer is the legal person who owns the bicycle.
Once the scheme has come to an conclusion, HMRC will then ask for the final owner of the bike’s fair market value for the bike.
You might think this would be an untrue economy, but it’s not. If you consider the amount saved by tax, you’ll nevertheless spent less money than buying the bike on its own.
In addition, it’s important to note that there are two options for ownership Choose to own it later on or buy it today.
What bike should I purchase?
According to the minister of cycling Michael Ellis, the PS1,000 limitation on bicycles was an exaggeration. It appears that the cap was used by companies that weren’t registered with the Financial Conduct Authority, so smaller independent bike stores.
In reality, there’s nothing to stop you from spending whatever amount you like in the event that your salary per month is sufficient to cover the cost and you’re able to pay up the initial amount. Which C2W stores sell the Festka Scalatore in the first place?
In the real world, you can get yourself a premium commuter for less than a grand.
If you’re considering making use of this bike the year long to get to work There are a few items we’d suggest you look at when buying.
First, think about disc brakes. They provide greater stopping power, particularly in bad weather, and are providing wider clearances of tyres. In addition should you desire greater comfort and puncture protection, opt for a tyre that is 28mm tyres or larger.
Additionally, be sure to look for bikes with the capacity for panniers as well as mudguards. Moving your luggage from the bike onto the bike could be a boon for back pain while a set guards can keep your back dry throughout winter.
In addition since the cap is not in place this opens up an perfect opportunity to purchase an electric bicycle.
What else do I need other than the bike?
This Cycle to Work scheme also lets you purchase accessories in addition to the bike, and this is something you must make use of. In actual fact, we believe it’s worthwhile to use the scheme to purchase two bicycle locks, a great set of lights, a headlamp as well as bibshorts that are of high quality.