Cycle to work scheme
Save tax and NI
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.
Latest news - Nov 2019
Since 2010 our Cycle to Work Scheme has offered staff a way to purchase a bike up to £1,000 to use for commuting to work payable over 12 monthly instalments. Over the past few years there has been a growing demand for eBikes and mobility bikes, which in general exceed our scheme limit.
In light of this, the growing sustainability agenda at the University and along with new HMRC guidance, we have had approval (5/11) to be able to offer higher priced bikes to our staff.
We will be able to dramatically increase the amount that staff can borrow from £1,000 to £2,820 (or 5% of salary) subject to affordability checks in line with our Annual Season Ticket Loans. This fantastic change will enable us to work with Cyclescheme in delivering an increased service whilst referencing our environmental strategy.
Details will be shared soon on how staff can access higher priced bikes via StaffNet and this page.
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