Introduction to 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.
For any application, please note our employer code is A12ED.
How to use the Cycle to Work scheme
You need to be an employee of the University of Bath to be eligible for the scheme.
Choose a bicycle, component bike parts and safety accessories up to the value of £5,000. It is important to get a quote before you apply for a certificate amount. Please refer to the certificate amount section for further information with regards to unspent certificate amounts.
Check what savings you could make on the scheme using the savings calculator on the Cyclescheme website.
Login to the Cyclescheme website and follow the Cyclescheme application process. Please note our employer code is A12ED.
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.
If you require a modified bike for disability or family requirements and therefore exceed this limit, please contact the Reward team.
Hire agreement and monthly salary deduction
By signing the hire agreement, 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.
The hire agreement runs for 12 or 24 months. You can decide what works for you (subject to eligibility criteria being met).
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 or component parts. Please review the following guidance 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 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 and 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
Insuring 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