Save up to 42% on your new E-bike
How it works as an employee….
Getting your bike is simple, your employer will provide you with a voucher to hire a commuting package of your choice. The package can contain an e-bike or an ordinary bike as well as safety equipment, clothing and accessories, tools and spares.
The cost of your voucher is repaid via salary sacrifice. Depending on your tax rate, you’ll save either 32% or 42% on the cost of the package.
Because the salary sacrifice period is independent of the hire period, depending on your employer, you can normally choose 6, 12, 18 or 24 month periods. So you can afford a really decent quality e-bike.
As a business owner…
If you own your own business it is unlikely that you will pay yourself through a PAYE scheme. However, if you want an E-bike for yourself you can claim an E-bike as a legitimate commuting tool of the business and as such your can claim your purchase as a business expense.
As a result you can then claim the Vat and the full cost of the E-bike against your corporation tax, saving over 40% of the bike cost.