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How it works
Through the scheme you can save at least 32% on the cost of a new bike.
Employers buy bikes and lease them to employees to cycle to work on. The employer recoups the bike cost though employee salary sacrifice (a monthly deduction from gross salary). Employees make savings on their tax contributions; 32% for standard rate tax payers and 42% for higher rate tax payers, and employers make a 13.8% saving on National Insurance Contributions.
Our Cycle2work colleague Andy explains how the scheme works in this short video
Watch in Welsh