Cycle Scheme 

 

How much can I save?

Savings start at a minimum of 25% (including an End of Hire fee) but most people save more. Use our calculator to estimate for how much you could save...

 

Your budget

You haven't entered an employer code for this calculation, so the figures shown below only represent the possible savings under Cyclescheme, not your actual savings.

Every employer's circumstances are different, and a Cycle to Work scheme can be run in many different ways. The calculator needs to know specific information about a scheme (eg NI rates and any finance charges) and apply these to the savings calculation in order for it to be accurate to your particular situation.

 

Your tax calculation

Total cost of bike and accessories:£600

Net cost of bike and accessories, including finance and admin costs (if applicable):£600

Income tax saving over hire period:£120

Employee NI saving hire period:£72

Final cost of bike & accessories:£408

Total saving:£192

Gross salary sacrifice, based on 12 month hire period (this should be the figure displayed on your hire agreement):£50

Net salary sacrifice, based on 12 month hire period:£34

Percentage saving over RRP:32