Cycle to work scheme
Save tax and NI
News update 20 April 2017
We will be changing our Cycle to Work Scheme provider from Cyclescheme to Workplace Bikes from 1st May. This will allow you to choose from all the leading UK bike brands, with options for you to select your bike from Halfords or from hundreds of independent retailers. You can even take advantage of seasonal promotions and Halfords’ price-match promise, to ensure you get the best possible value. In addition you will receive a 5% reduction off your bike repayments. All applications submitted via Cyclescheme up to midnight on 30th April will be honoured. This page will be updated with the application process for Workplace Bikes from 1st May 2017.
Cycling to Work is one of the measures to encourage healthy living to employees and promote sustainable travel. The Cycle to Work scheme enables you to save money on the purchase of bikes and accessories or just safety equipment only.
The University has teamed up with Cyclescheme, which has a network of over 1300 independent cycle stores nationwide for staff to select a bike and safety equipment that is right for your lifestyle.
For more information read our Cycle to Work guidance.
How are the savings made?
You agree to a reduction in earnings equal to 1/12th of the cost to the University of the bike/equipment each month for one year. This is a 'salary exchange' arrangement, so this reduces the amount of tax and NI paid so that savings of around 25%-35% on the list price of the cycle and safety equipment can be made, depending on your tax band. There is a minimum spend for safety equipment only requests of £100 and a maximum of £1,000 for all types of requests.
How do I apply?
Visit the required link below to Cyclescheme using our University code: b01a32
If you need further information or are needing advice on the purchase of allowable safety equipment not listed above, please contact HR Services at:
- Email: HRServices@manchester.ac.uk
- Tel: 0161 275 4499