Save money, get fit and reduce your carbon footprint!
The Cycle to Work scheme is a government initiative that encourages alternative travel and reduces our environmental impact. Not only does it reduce your carbon footprint, but also allows you to spread the cost of getting a new bike, save up to 39% on a bike and accessories, and increase your fitness.
Barratt Developments is offering this benefit through Cyclescheme – the leading provider of Cycle to Work schemes in the UK. The benefits of the scheme are:
- Huge savings (up to 39%) on the cost of a new bike and safety equipment.
- Spread the cost over a year and save on your Income Tax and National Insurance contributions.
- Choose from over 500 brands from over 2,500 partner stores across the UK.
- Get new equipment and accessories only if you already have a bike.
- Market leading End of Hire process, ensuring the best savings.
- Get access to a range of extra benefits through your exclusive MyCyclescheme account, including a free 6-week service and the new and exclusive BikeMiles!
How does the scheme work?
Barratt Developments pays for the full cost of the bike and/or any safety equipment you need – the maximum amount you can spend £2000. This is then paid back by way of a salary sacrifice arrangement under a Hire Agreement between you and the Company.
Savings are made because salary sacrifice reduces your gross pay. This, in turn, reduces the amount of Income Tax and National Insurance that you pay each month. Savings are dependent on your personal tax code but can be up to 39%.
To help you understand how much you can save, you can use the savings calculator https://www.cyclescheme.co.uk/calculator
For even more info on some great deals https://www.cyclescheme.co.uk/offers-section
Visit the unique Barratt employee webpage www.cyclescheme.co.uk to apply for your Cyclescheme Certificate.
Employer code (7046d4)
Check out the CycleScheme COVID Information Hub for further guidance on how to use the scheme