Cycle to work scheme
Switch to a greener commute with our new Cycle to Work employee benefit
Regular cycling is a great way to boost your physical and mental health and wellbeing while doing your bit for the planet. Check out our new Cycle to Work employee benefit via Vivup and discover savings of up to 37% (*t’s & c’s apply) on bikes, safety accessories and clothing for your commute to and from work! The limit for the Cycle to Work Scheme has also been increased to £3,000 subject to affordability.
Browse the range and create your order at vivup.co.uk
How the scheme works
You choose a bike and any accessories, loan them for an agreed length of time and exchange a set amount of your salary each month during the loan period. Reductions are made to your gross salary, so you can make savings on Income Tax and National Insurance contributions, where applicable. When your Hire Agreement and salary exchange ends, you can keep your package by making a small additional payment back to Vivup.
You simply choose a bike from retailers covering Halfords, Cycle Solutions, Evans and local independents.
- A maximum of one order per year subject to affordability.
- The scheme limit is £3,000 subject to affordability.
- Your hourly rate after Cycle to Work Scheme deductions cannot take you below the National Minimum Wage (currently £9.50 per hour as at 1 April 2022)
Important note for Cyclescheme users
Although the University is no longer be partnered with Cyclescheme this will not affect any employees who are currently hiring cycles via this provider.
Important information for applicants and users of the Cycle to Work Scheme from HMRC
The Cycle to Work Scheme is solely for bikes that are intended to be used primarily for cycling to work, in accordance with HMRC requirements.
To ensure HMRC compliance and benefit from Income Tax and National Insurance savings on the value of your bike, at least 50% of your bike’s use must be for cycling to and from work in the 12 month hire period. This includes any combination of journeys between home, station and office, as well as cycling between offices or to visit clients.
You do not need to keep a detailed record of the time or number of miles you cycle. However, please be mindful if you are working from home as, if less than half of your bike’s use is for cycling to and from work, then it could become subject to income tax in the normal way. It is your responsibility to ensure you comply. Employees who accessed a bike via Cyclecheme between the first lockdown and 20 December 2020 were exempt from the standard 50% rule.