Paying for Your Bike and Accessories
In Full
Most major credit and debit cards are accepted.
Finance
All purchases of £400 and over entitle you to 0% finance over 6 months (subject to status). Spend £1,000 and above and (subject to status) recieve 12 months interest free credit.
• Introduction • Benefits To Employees • Benefits To Employers • ZeroG Cycles Role • How it Works • Our Partners • Contact Us •
Introduction
ZeroG are pioneering "Cycle to work" in Bristol and the UK. Taking advantage of new legislation enacted in the Income Tax (Earnings and Pensions) Act 2003, an employer is able to provide a bicycle and bicycle safety equipment to employees to be mainly used to cycle to work.
[top of page]The employee incurs no Income Tax and National Insurance on this benefit. Where there is a direct business benefit from implementing "Cycle to Work" (for example as part of a Green Transport Plan or improving employee health/attendance which our schemes all deliver) VAT may be reclaimed and passed on to staff. In total, substantial savings of up to 50% of the retail price can be achieved, from the provision of a bicycle and bicycle safety equipment.
[top of page]Cycle 2 Work with ZeroG - Bristol's leading "Cycle 2 Work" scheme facilitator and Cycle Scheme Parter.
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Running a "Cycle to Work" scheme incurs no direct costs for employers who also avoid the NI contribution of 12.8% on the value salary sacrificed and achieve the benefits of a green transport or environmental compliance plan. Both parties benefit from the employee being fitter and healthier, and the scheme contributes to a recruitment and retention programme and helps combat absenteeism.
[top of page]ZeroG Cycles developed the mechanism for the legislation to be become operative and now provides Bristol's largest compliant "Cycle to Work" scheme to many blue chip organisations. The professionally managed service includes account management for the employer and expertise on the complex legislation as well as informed advice on product selection. The scheme has set the model for the market and provides employees with the largest choice of bicycle and bicycle safety equipment available in the Bristol.
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- The employer can administer the scheme, or ZeroG Cycles can introduce an administration service.
- The employee will be given a period of time in which to choose a bike.
- ZeroG Cycles have the largest choice of bicycles and accessories in the Bristol. There will be a store near you.
- Choose a bike in store or at ZeroG Cycles Website
- Then choose a letter of collection (LoC) value that is nearest to the value of the bike. LoCs are available from £100 in £50 increments. The full value of the LoC must be spent on a bicycle in store to achieve the saving.
- Advise the employer or administrator of the LoC value required.
- Once the administration process is complete a voucher will be issued.
- The scheme is financed by the employer, this can be made cash neutral. The employee pays back their LoC value monthly from their salary.
- The savings come from tax benefits associated with the scheme.
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More Worked Examples of Possible tax Savings...
Bikes4Work
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For more information, please call 01179 660743 or contact us here
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