Are you ready to roll?
Are you yearning for a change in your commute to work? Perhaps you're tired of being stuck in traffic or sitting in a packed bus or train; maybe there's a better way to get to work, one that makes you look forward to the start of the day and also involves a healthy dose of fun. Wiggle's Cycle To Work scheme offers you the chance to get on a bike and embrace the freedom of cycling into work. It is your opportunity to embrace a healthier lifestyle and gain control of your commute, while saving money on tax and national insurance - #goodstuff
How does this scheme work?
Choose a bike and hire it for a specific lease period, once the hire period expires you can purchase the bike for a fraction of its original cost - it allows you to get a great bike and spread the costs . You can buy a bike and selected accessories through Cycle To Work at a discount of a minimum of 25 per cent including end of scheme agreement costs. More typically the discount can be as high as 42 per cent.
What Cycle To Work providers does Wiggle work with?
We work with 3 main Cycle To Work providers:
How do I save money using Cycle To Work?
The Cycle To Work scheme uses a salary sacrifice process. This means that you agree to give up a portion of your salary in exchange for your chosen bike and/or accessories. The saving is made from the salary sacrifice being deducted from your gross salary (before tax) and as a result you pay less income tax and National Insurance.
How do I qualify for the scheme?
As long as you receive your salary via PAYE and you earn in excess of the National Minimum Wage after your salary sacrifice deduction, you will qualify for the Cycle To Work scheme. There is no credit check or scoring system to qualify for the Cycle To Work scheme and if you're under 18, you can still qualify providing you get a legal guardian to sign as a guarantor.
Is Cycle To Work for commuting only?
The bike you select under the Cycle To Work scheme should be for commuting purposes and between work places. However you can also use your equipment for leisure activities, and there is no need for you to log your ride activity.
What if I leave employment during my scheme?
If you leave your job during the hire period of your Cycle To Work agreement, any outstanding payments will be taken from your final salary from net rather than gross pay - this means you will not benefit from the usual tax exemptions.
It is not possible to transfer the agreement from one employer to another.
How do I sign up?
- Register for the scheme through your chosen provider.
- Choose your bike and accessories and request a quote.
- Get your certificate of your scheme and receive your bike