Purchase a Bike with Us Through the Cycle to Work Scheme

What is the Cycle to Work Scheme?

At Big Bear Bikes, we’re proud to be a trusted retailer for the Cycle to Work scheme offering a wide range of Cycle to Work Scheme bikes and accessories to help you get started on your cycling journey. 

We’re all for people getting out and about on their bikes and this scheme encourages people like you to cycle to work, improve your health and reduce your environmental impact at the same time. Plus, with this scheme you can purchase bikes and cycling accessories at a reduced cost by using a salary sacrifice arrangement, so you can save on tax and National Insurance.

How Does the Cycle to Work Scheme Work? 

The Cycle to Work Scheme works by allowing you to choose a bike and accessories through a retailer like us, then pay through a salary sacrifice arrangement with your employer. This means the cost is deducted from your pre-tax salary, which reduces your overall tax bill and saves you money. 

Here’s how the process typically works: 

1. Sign up: You’ll need to confirm with your employer if they offer the Cycle to Work Scheme.
2. Select your bike and accessories: Once you’re enrolled, choose the bike that suits your needs from Big Bear Bikes.
3. Salary sacrifice: Your monthly salary will be reduced by the cost of the bike and accessories. The deduction is spread over 12 months (or longer, depending on your employer). 
4. Enjoy your bike: You can now enjoy the benefits of commuting by bike while saving money on your purchase!

How to Apply for the Cycle to Work Scheme

Applying for the Cycle to Work Scheme is simple! Here’s how to get started:

1. Check if your employer offers the scheme: Many employers now offer this benefit, so start by confirming with your HR department.
2. Choose your bike and accessories: Browse our selection of bikes and accessories available under the scheme.
3. Submit your request: Once you’ve chosen your bike, you’ll submit the details to your employer or scheme provider.

Start cycling: After approval, your bike is yours to enjoy, and your payments will be deducted from your salary.

FAQs: Cycle to Work Scheme

How Long Does the Cycle to Work Scheme Take?

The process usually takes a couple of weeks, from applying through your employer to receiving your bike. However, timelines may vary depending on your employer’s approval process.

Can You Transfer the Cycle to Work Scheme to a New Employer?

Unfortunately, the Cycle to Work Scheme is tied to your current employer. If you change jobs, you’ll need to return the bike (or buy it) and start the scheme with your new employer.

What Happens at the End of the Cycle to Work Scheme?

At the end of the hire period (usually 12 months), you have a few options:

• Return the bike: If you no longer need it.
• Buy the bike: Typically, you can purchase the bike at its market value.
• Extend the hire period: Some schemes allow you to extend your hire agreement.

Can You Pay Off the Cycle to Work Scheme Early?

Yes, you can often pay off the bike early and own it sooner. Contact your scheme provider for more details on how to do this.

Do You Own the Bike After the Cycle to Work Scheme?

Once you’ve completed the hire period and any final payments, the bike is yours to keep!

Does the Cycle to Work Scheme Affect Your Pension?

The Cycle to Work Scheme involves a salary sacrifice, which can reduce your gross income. This may affect your pension contributions slightly, so it’s always a good idea to check with your HR team.

Can You Use the Cycle to Work Scheme for Family Members?

The Cycle to Work Scheme is typically only available for employees, but some companies may allow family members to benefit as well. Check with your HR department for specific details.