Cycle to Work
Tax Free Bikes for Work from Sprockets
Sprockets is proud to support CycleScheme, one of the leading Cycle to Work providers. Thank to this government backed scheme if you cycle to work you can save up to 42% on a new bike and safety equipment making your purchase more affordable.
How Does It Work?
The Cycle to Work scheme is a salary sacrifice. Your employer buys the bike and equipment on your behalf and then leases it back to you over a 12‑month period through an interest-free salary sacrifice scheme. This means the cost is deducted from your salary as a non-cash benefit, which saves you tax and national insurance. Plus you get to pay for your bike and equipment in installments.
At the end of the 12‑month period you then have the option to purchase the bike. Total savings tend to be between 25% and 39%.
Why Buy Through a Cycle to Work Scheme?
- Save up to 42% off the cost of a new bike
- Spread the cost by paying in monthly installments
- No extra or hidden costs to set-up
How to Purchase