What is the scheme?
The scheme is a salary sacrifice arrangement where you give up part of your salary before tax and national insurance in exchange for hiring a bicycle and/or safety equipment.
We run our salary sacrifice scheme with a company called Cyclescheme giving you access to a network of local, national and online retail outlets.
How does it work?
a) You need to be an employee of the University of Bath to be eligible for the scheme
b) Choose a bicycle, component bike parts and safety accessories up to the value of £3,000. It is important to get a quote before you apply for a certificate amount. Please see certificate amount section below for further information with regards to unspent certificate amounts.
c) Login to the Cyclescheme website and request a Cyclescheme quotation (the employer code is A12ED)
In special circumstances the Reward team will authorise a value of up to £5,000, please contact Reward-HR@bath.ac.uk to gain this approval. The below scenarios for approval of the £5,000 limit will be considered:
- Bikes and equipment that are designed to accommodate a specific need e.g. a disability
- Large family electronic bikes
d) Check what savings you could make on the scheme using the savings calculator on the Cyclescheme website.
e) Take the certificate to the bike shop and exchange it for the goods. Please note, it takes up to 31 days to process and receive the certificate from Cyclescheme
f) Via the hire agreement you sign, you are agreeing to a monthly deduction to your gross salary, meaning that you'll benefit from reductions in income tax and national insurance. The monthly amount is dependent on the value of the bike and accessories you choose.
g) The hire agreement runs for 12 or 24 months. You can decide what works for you (subject to eligibility criteria being met).
h) At the end of the hire period there may be the option for you to make a final payment to Cyclescheme for the ownership of the bike and/or equipment/component parts. Please see the following guide for information about the end of hire period :
- Cyclescheme's HMRC Market Value Clarification
- Full scheme guidance can be found on the Department for Transport web pages Cycle to Work Scheme: Guidance for Employers
You do not have to spend the full value of your eCertificate but this is not advised as your overall package price and monthly Hire Agreement costs will not be reduced if you underspend.
Cyclescheme recommends that all participants redeem the full value of their eCertificates at the point of redemption, as it's essentially a 'use it or lose it' scenario.
It is important that you:
confirm that the bike will be your main mode of travel to and from work
maintain the bike and equipment in a reasonable and safe condition
insure the bike against theft. The University of Bath accepts no responsibility if the bike is lost or stolen. Payments will still be required until the end of the agreement.
Other information about the scheme
Full scheme guidance can be found on the Department for Transport web pages Cycle to Work Scheme: Guidance for Employers
Insure the bike against theft. The University of Bath accepts no responsibility if the bike is lost or stolen. Payments will still be required until the end of the agreement. Cyclescheme recommend Cycle Guard, who will offer participants of the scheme a 15% discount.