What is it?Velorution's own cycle to work scheme. A hire agreement between Employer and Employee for the provision of a bike.
Benefits?Unlike 3rd party schemes it's simple to use with no vouchers involved.
How does it work?
- > Choose what equipment you would like to purchase
- > Once you have chosen your bike and accessories, fill in the hire agreement and return it to us with contact details of your company
- > Velorution will send the form for your HR department to complete and process
- > When your company has approved the purchase we will send an invoice for payment
- > Upon payment the bike and accessories will be available for collection
Employee Benefits1. Paying for a new bike over a 12 month period out of there salary.
2. Personal tax saving in income tax and national insurance contribution.
3. Employees will typically save between 31% and 48% of the retail cost of bikes and accessories. (dependant on their personal salary)
Employer Benefits1. Typically, organisations can save 13.8% of the total value of salary sacrifice because of reductions in the amount of National Insurance Contributions due.
2. The cost of cycling equipment can be treated as capital expenditure and therefore employers can claim capital allowances against it.
3. Fitter and healthier staff.
For further info email: firstname.lastname@example.org or call 020 7637 4004
VELOTOWORK Hire agreement, is regulated by the Consumer Credit Act 1974 - Agreement between the Employer and Employee for the provision of a bike.
Third party CYCLE SCHEMES
We accept cycle to work vouchers
If you already have a voucher with another scheme we can redeem it towards a Velorution stock bike. We support the following schemes:
To see how much tax you can save, see CycleSchemes calculator: Click here