What is Cyclescheme?
Cyclescheme is an initiative that allows you to spread the cost of your new e-bike and accessories, directly from your salary, usually over a 12-month period. And, if that wasn’t enough, you also save up to 42% on the cost too!
How does it work?
Your employer purchases your chosen bike for you, which you pay back directly from your gross salary. By having payments taken from your gross salary, you pay less tax and national insurance. So you can save 42% on a new bike for work!
How do I apply?
To benefit from it, your employer needs to be enrolled. After this, there are three easy steps to buy from Wheelie World using Cyclescheme. Please be aware that all ride to work purchases are charged at FULL price and no discounts can be applied.
1
Get your employer code
Check that your employer is registered by searching for your company name on the Cyclescheme website, or visit your internal company benefits page.
2
Choose your products
Choose the e-bike and/or accessories that you would like and make a note of the total value.
3
Request Cyclescheme certificate
Request your certificate on the Cyclescheme website or your internal company benefits page. If you are unsure of your process, please check in with your HR team or give Cyclescheme a call on 01779 472348.
Where can I get an Eskute Cyclescheme bike?
Wheelie World Aberdeenshire
Wheelie World Peterhead. 32b Queen Street Peterhead Aberdeenshire Scotland.
Tel: 01779 472348 Mob: 07739105562
Email: sales@wheelieworld.co.uk
How much can I save in Cyclescheme?
You can save 25% – 42% on an e-bike of your choice! It might sound too good to be true, but it’s really simple and there are no strings attached. Just try out the calculator below to see how much you could save.
FAQs
You’ll save a minimum of 25%, including the end of hire transaction. If you’re a higher rate taxpayer, you’ll save at least 42%.
Almost any item you need to cycle to work including lights, locks, helmet and clothing. However, GPS units are not allowed under the scheme.
It’s an agreement between you and your employer. This details what you’re hiring, for how long and with what repayments. At the end of the agreement, you own the products. Find out more.
This depends on how often you get paid – weekly or monthly, for example, and how long your hire agreement is in place for. For most people, it equates to 12 equal payments taken from your salary across 12 months.
A voucher that’s delivered direct to your inbox. Redeem this online or in store for your Cyclescheme purchase.
To benefit from Income Tax and National Insurance savings over the period of the hire agreement, an ‘Ownership Fee’ needs to be paid at the end of the term.
The Ownership Fee is a set percentage based on the age and value of your Cyclescheme package. At 4 years old, 3% needs to be paid on packages less than £500 and only 7% on packages over £500.
Subject to any employer-set limits, you can spend as much as you like with Cyclescheme.
Your Cyclescheme certificate can only be used once, so all items need to be paid for using that certificate. You may apply for another certificate once your hire agreement and payments been completed.
Yes, you can buy electric bike accessories only using your Cyclescheme certificate.
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30-32 Queen Street
Peterhead.
AB42 1TS