The Benefits
Ride2Work is a win/win situation for both employers and employees. Employers benefit from a more healthy, happy workforce and from a reduction in company national insurance contributions.
Employees benefit from the massive savings the programme offers rather than the traditional method of buying a bike. The health and fitness benefits that come with increased exercise and activity are well known, and you can also cut back on your existing public transport and car costs.
How does the employer benefit?
- Make savings on national insurance contributions
- Offer a tangible benefit to staff
- Zero cost to employer
- Relieve pressure on corporate parking and traffic congestion
- Encourage a healthier workforce
- Bikes can be treated as a business asset to recover VAT
- Goods remain property of the employer until term is over, encouraging staff loyalty
How does the employee benefit?
- Income tax, VAT and national insurance contributions savings can add up to 50% off the shop floor price of the bike and accessories
- Choose from the finest range of bicycles available in the UK
- No finance charges
- Spread the cost of commuting
- Enjoy the health benefits of commuting to work
- Make your salary go further each month
- Put your monthly fuel, car and train fare bills into a holiday fund!
Ride2Work Savings Illustration
Here is a typical example to illustrate the savings under the Ride2Work programme. Actual savings will depend on each individual’s personal circumstances & tax rate.
Bicycle & Accessory purchase
- Commuting Bike: £249.99
- Helmet: £24.99
- Lights: £39.99
- Reflective Jacket £49.99
Total price before savings: £364.96
Savings via Ride2Work
- Income Tax: £69.15 (based on 22% standard rate)
- Employee’s National Insurance contributions: £34.58 (based on 11%)
- VAT: £50.63 (no VAT on helmets)
Total Saving: £154.36 (42%)
Higher tax and national insurance rate payers will save even more than the above example. For a more accurate estimate of your own savings, please use our online savings calculator:
To find out how much you could save under the Ride2Work programme use our online savings calculator.
