Commuters are breaking free from car usage for health, carbon footprint and convenience advantage.
The Green Commute Initiative uses tax breaks, designed by the Government to encourage more cycling, to both spread the cost and give substantial savings.
You qualify for the scheme as long as you are in PAYE and your employer is agreeable – there are savings to be made by your employer and they often gain fitter, happier more punctual workers!
You pay for the bike by salary sacrifice, making savings on tax and national insurance over, typically, a year. Your employer will save 13.8% employers NI contribution.
There is no £1000 limit for the bike making a full cargo bike purchase quite possible on the scheme. There is no final fee at the end of the loan scheme which is easy to administer for your employer and fully HMRC compliant.