What is the Tax free bike scheme?
The Tax free bike scheme (often referred to as cycle to work scheme) was introduced by the UK Government to encourage greater participation in cycling.
The Tax free bike scheme enables employers to offer their employees the opportunity to get a bike and cycling accessories via their salary.
This means the employee reduces part of their gross salary before tax, in exchange for a bike or electric bike (ebike) and accessories, and benefits from not paying Income Tax or National Insurance on the value of the bike and gear.
Employees can use the bike for commuting as well as for leisure.
Cycle to Work savings are typically 28% - 48% depending on your earnings.
The scheme also acts as a form of interest free loan via salary, to further improve the affordability of getting a new bike.
Neither the employer or the employee is required to keep a log of their use of the bike.
gogeta is our Adventure Tribe's preferred cycle-to-work partner
gogeta is not your average tax-free cycling provider, they offer unbeatable value, they have swift easy admin and offer 24/7 support to employers, employees and retailers alike. Visit their site for more information https://gogeta.bike or see the links above.
Thanks to the low cost of accepting gogeta vouchers, we do not include any surcharges, which means gogeta customers enjoy the best savings.
Maximise your savings with the UK’s most generous scheme
In addition to the tax savings, gogeta enables access to sale prices and discounts that are not usually available to Cycle-to-work buyers. Total savings are often in excess of 50%. Find the calculator here https://gogeta.bike/see-you-savings.
Or use The Online Calculator
- Access to the best deals
- No final transfer fees
- No surcharges
- No hidden fees
Unlike certain other Cycle to Work schemes you will never face a surcharge when using a gogeta voucher.
Things to be aware of and check with other schemes before purchasing:
- As the bike is technically hired for the duration of the salary sacrifice, there needs to be ownership fee at the end to satisfy HMRC.
- Certain other schemes charge as much as 7-13% of the bike price to do this! Rest assured gogeta charges a mere £1
- Other schemes often make you use the whole voucher in one go, and/or only on a bike with flexi vouchers you can use it on accessories and the remainder can be used later
What are gogeta flexi vouchers?
All vouchers issued by gogeta can be spent flexibly over 12 months. Unlike other providers’ vouchers they don't have to be spent in one go.
This means that you have more control over what you buy and when. You could get a bike in the summer. Lights in Autumn. Gloves in winter. All on the same voucher. And across as many transactions as you like. With a gogeta flexi voucher you could make your whole year’s spend on cycling tax-free. Find more info here https://gogeta.bike/flexi-voucher
My employer uses another scheme?
While that may be the case, usually it is often because they signed up with one through a benefits program provider by default, often the HR team are totally unaware of the multiple schemes on offer and the benefits difference.
They can really easily and often do sign up once they realise the benefits to their employees, we can help with this or you can go here and gogeta will reach out to get them signed up, it is really easy and painless.
https://gogeta.bike/invite-your-employer
*While we try to keep this page up to date things change so be sure to check the gogeta website for the latest terms and conditions