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Cyclescheme

What is Cyclescheme?

Cyclescheme is a hire agreement initiative that helps you save up to 39% on an e-bike and accessories.

 

Available to employees of participating organisations and businesses, Cyclescheme lets you pay for your chosen e-bike and accessories through a mechanism known as ‘salary sacrifice’. This means you can spread the cost over a set period of time using tax-efficient deductions, saving you between 25-39% on your purchases depending on how much tax you pay.  

 

In essence, a set amount of money is taken out of your gross salary to put towards your new e-bike. This reduces the amount of tax that you pay, leaving more money in your pocket! 

How do I get Cyclescheme?

In order to benefit from Cyclescheme, your employer needs to be enrolled. After this, there are four easy steps to buy from Pure Electric using Cyclescheme: 

Get your employer code

Contact your employer’s HR department to receive an employer Cyclescheme code – this code proves that your employer is part of the scheme. 

Choose your products

Select your e-bike and/or accessories from Pure Electric’s extensive range. 

Visit Cyclescheme.co.uk to request a certificate using your employer’s Cyclescheme code.

Check out

Using this certificate and the redemption code, check out on the Pure Electric website and redeem your certificate on the payment page. (Remember to select 'Pay now' to complete your order.) Please make sure your certificate matches your total basket. Alternatively visit us in store with your certificate ready.

Get your employer code

Contact your employer’s HR department to receive an employer Cyclescheme code – this code proves that your employer is part of the scheme. 

Choose your products

Select your e-bike and/or accessories from Pure Electric’s extensive range. 

Visit Cyclescheme.co.uk to request a certificate using your employer’s Cyclescheme code.

Check out

Using this certificate and the redemption code, check out on the Pure Electric website and redeem your certificate on the payment page, please make sure your certificate matches your total basket. Alternatively visit us in store with your certificate ready.

How much can i save?

You can save 25% - 35% on an ebike of your choice! It might sound too good to be true, but it's really simple and there are no strings attached. Just try out the calculator below to see how much you could save.

FAQs

How much will I save with Cyclescheme?

As a minimum, you’ll save 25%. If you’re a higher rate taxpayer, you’ll save at least 35%.

What can I get through Cyclescheme? 

Almost any item you need to cycle to work including lights, locks, helmet and clothing. However, GPS units are not allowed under the scheme. 

What is a Hire Agreement?

It’s an agreement between you and your employer. This details what you’re hiring, for how long and with what repayments.At the end of the agreement, you own the products. Find out more.

How is my salary sacrifice calculated?

This depends on how often you get paid – weekly or monthly, for example, and how long your hire agreement is in place for. For most people, it equates to 12 equal payments taken from your salary across 12 months.

What is a Cyclescheme certificate? 

A voucher that’s delivered direct to your inbox. Redeem this online or in store for your Cyclescheme purchase. 

Why don’t I own the bike straight away? 

To benefit from Income Tax and National Insurance savings over the period of the hire agreement, an ‘Ownership Fee’ needs to be paid at the end of the term. 

How is the Ownership Fee calculated? 

The Ownership Fee is a set percentage based on the age and value of your Cyclescheme package. At 4 years old, 3% needs to be paid on packages less than £500 and only 7% on packages over £500. 

How much can I spend?

Subject to any employer-set limits, you can spend as much as you like with Cyclescheme.

Do I have to buy my items in one transaction?

Your Cyclescheme certificate can only be used once, so all items need to be paid for using that certificate. You may apply for another certificate once your hire agreement and payments been completed. 

Can I buy accessories only?

Yes, you can buy accessories only using your Cyclescheme certificate.

Can I get Cyclescheme on sale items?

Yes, all discounted and on-sale e-bikes and cycling accessories can be bought using Cyclescheme.

Can I use Cyclescheme to buy an electric scooter?

No, at this time Cyclescheme is only usable on e-bikes and cycling accessories. 

Can I add my own funds?

No – In accordance with guidance from HMRC, you cannot add your own funds or part-pay using funds outside of Cyclescheme. Cyclescheme no longer operates with an upper value limit, enabling you to get the e-bike and cycling accessories of your choice, resulting in tax savings on the total value.

 

Can I return my purchase?

Yes. To find out how to return one, some or all of your products, please see our returns page.

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