CycleScheme at Surosa Cycles

Surosa Cycles are one of the largest CycleScheme partners in the UK providing tax-free bike for work.

Wherever you live in the UK can we can supply you with a quality bike on the scheme, either through our retail outlets or by mail order, with the confidence that it has been prepared by our qualified technicians with the same attention to detail.

CycleScheme are scheme administrators and work with a network of independent bike shops to supply the nation with quality tax-free bikes and equipment for work. Hundreds of companies of all sizes have already benefited from our easy-to-follow system!

All you need to do :

• Find out if the company you work for are signed up for the cycle to work scheme (if not then contact us and we can explain what you need to do to join)
• Choose the bike and accessories that you would like and we will fill out the relevant paperwork.
• Pass the paperwork onto your employer who will ask you to sign a hire agreement. CycleScheme will then send a voucher for your bike to you.
• Come in and collect your new bike
• Cycle to work with a smile after saving £££'s

We stock many major brands with 100s of bikes in stock

Who can get a bike?

Employees paying PAYE, who have a contract that outlasts the duration of the salary sacrifice period are eligible, provided they are over 18 years old, earn more than the National Minimum Wage after the loan repayment has been deducted, and have completed the employer's probationary period (if applicable).

What is salary sacrifice and how are savings made?

With a salary sacrifice you pay back the loan on your bike, accessories and safety equipment from gross rather than net pay for the hire period (usually 12 months), allowing you to benefit from income tax and NI relief.

How much can I save?

Typical savings are between 30% and 50%, but the actual amount you pay depends on your personal tax band, and the way your company runs the scheme. Higher rate taxpayers will save more, employees whose company cannot reclaim VAT (the NHS, for example) will save less. If the employer uses external finance (i.e. your employer borrows the money to buy the bikes) then savings are normally about 5% lower. Finally, the fair market value payment needs to be taken into account when calculating the total savings.

Can I get any bike?

You can choose any bike, including electric bikes, providing your chosen CycleScheme partner can supply it. Some bike shops may add an administration fee to quotes for custom bikes, because the profit margins are lower than those available on standard, mass-produced models. If your employer wants to supply bikes costing over £1000 (retail price including VAT) then they will need a Consumer Credit Licence, and this costs £275, so many employers limit the package value to £1000.

Do I have to use the bike for work?

You can use the bike however you like; a bike purchased under CycleScheme should be used for work journeys at least 50% of the time. You don't have to cycle to work for a specified number of days throughout the year and you don't have to record your trips or mileage. You may not claim expenses for business trips made using the bike until the end of the salary sacrifice period.

Smile as you ride after saving up to 50% on your new bike.