Do NHS employees get cycle to work?
Do NHS employees get cycle to work?
We encourage our staff to live healthy lifestyles and as part of this UCLH has signed up to the ‘Bikes for the NHS’ cycle to work scheme. As a member of staff, you can lease a bike plus safety equipment up to the value of £5,000 as long as: you are employed by UCLH and over the age of 18 years.
How much do you get for Cycle to Work scheme?
Standard schemes ensure that you will save a minimum of 25% on the cost of the bike and / accessories, however many people save more (particularly with our offers!).
Is NHS cycle to work scheme worth it?
However, it is still widely used and, according to national cycling charity Cycling UK, very worth it. Sam Jones at Cycling UK told us: “We’re absolutely pro the Cycle to Work scheme – you make a saving, it helps people spread the cost out over time, and it helps employers and employees think about cycling.”
Do I qualify for cycle to work scheme?
If you are a working adult aged 16 or over, you are eligible to join Cyclescheme. Your employer needs to be signed up and your earnings should be more than the National Minimum Wage after the salary sacrifice is taken from your gross salary.
How does NHS Cyclescheme work?
The Cycle to Work Scheme is a salary sacrifice scheme, which means that instead of making a direct saving on the purchase you make, the saving will be made from the money being taken from your gross wage (pre-tax and national insurance).
Is the cycle to work scheme worth doing?
The savings aren’t worth it You don’t pay income tax or national insurance on the bike as its cost is deduced from your gross salary, saving you 32% (standard rate taxpayers) or 42% (higher rate taxpayers). The misunderstanding may come from the transfer of ownership payment you make to own the bike.
Is there a cycle to work calculator for cyclescheme?
Cyclescheme savings can vary but the great news is that our calculator offers very accurate savings forecasts. Search for your employer to ensure accuracy. The calculator includes your ownership fee. There will be no additional fees to pay. Enter your details to see how much you could save. Ready to roll? Ready to begin?
How does the cycle to work scheme work?
The Cycle to Work scheme is a salary sacrifice scheme, this means that instead of making a ‘direct’ saving on the purchase you make the saving on your tax and NI contributions as the monthly deductions come off your gross wage (pre tax & NI.)
How can I find out how much I can save on cycle to work?
Please note, savings may vary due to your personal taxation, your employers scheme or if you pay tax in Scotland or Wales. Find out how much you can save on the cycle to work scheme. Cyclescheme savings can vary but the great news is that our calculator offers very accurate savings forecasts. Search for your employer to ensure accuracy.
Is the cycle to work scheme a salary sacrifice?
The Cycle to Work scheme is a salary sacrifice scheme, this means that instead of making a ‘direct’ saving on the purchase you make the saving on your tax and NI contributions as the monthly deductions come off your gross wage (pre tax & NI.) Maximum certificate value £1000 for bikes and/or equipment.