HOW DOES IT WORK?
essentially, your employer buys a bike of your choice from cycle 360 for no more than £1,000 to allow you to ride to work
you purchase it from them by making monthly payments from your salary, which is agreed between you and your employer that does not exceed three tax years
when the agreed purchase period comes to an end you own the bike!
WHAT CAN I PURCHASE ON THE CYCLE-TO-WORK SCHEME?
a bicycle and/or bicycle safety equipment* that does not exceed the value of £1,000
PURCHASING YOUR BIKE IN FOUR SIMPLE STEPS
- obtain a quote from cycle 360 should be no greater than £1,000 (inclusive of VAT)
- gain approval of your quote from your employer
- employer provides employee with a purchase order
- employer authorises invoice submitted by cycle 360
*includes items such as an appropriate helmet, lights, mirrors and high visibility clothing