Save money on a new bike, cycling equipment, clothing and accessories in store at our bike shops in Hampton Wick, Letchworth and Oakham or online via our website.
The Cycle to Work scheme is one of the most popular employee benefits in the UK, offering significant financial advantages to both employees and employers.
Save money on a new bike, cycling equipment, clothing and accessories in store at our bike shops in Hampton Wick, Letchworth and Oakham or online via our website.
The Cycle to Work scheme is one of the most popular employee benefits in the UK, offering significant financial advantages to both employees and employers.
What are the benefits of the Cycle to Work Scheme?
There are many benefits to joining the Cycle to Work scheme, both for employees and employers.
However, perhaps the main one is that yu can save up to 42% off a new bike with Cycle to Work Scheme.
For Employees
For employers
What is the Cycle to Work Scheme?
The Cycle to Work scheme is a salary sacrifice arrangement, where the cost of your bike and equipment is deducted from the employee's gross salary before income tax and National Insurance are calculated. This means you do not have to pay tax on the value of the bike and accessories, resulting in a substantial saving. The scheme saves employees money by reducing their taxable income, making it a cost-effective way to purchase cycling equipment!
To promote healthier journeys to work and to reduce environmental pollution, the 1999 Finance Act introduced an annual tax exemption, which allows employers to loan cycles and cyclists’ safety equipment to employees as a tax-free benefit.
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How does the Cycle to Work Scheme Work?
To understand how the scheme works, it's important to know the process for both employees and employers.
The employer pays for the work bike upfront, covering the total value of the bike and any accessories, and the employee reimburses the employer through a salary sacrifice arrangement. Deductions are made from the employee's gross salary, which reduces their income tax and National Insurance liability, so employees do not have to pay tax on the value of the bike.
This scheme saves employees money and offers significant saving opportunities, as the cost is spread over monthly pay packets. The work bike can be used for commuting, allowing employees to access a reliable bike to ride to work on and e bikes are also eligible under the scheme, providing a convenient option for longer or more challenging commutes.
Your employer will decide on the scheme limits of value and for how long the agreement is for. They are usually decided on an affordability matrix. The scheme limit is typically based on the retail price or total value of the bike and accessories you select. Understanding these limits helps employees maximise their savings through the scheme.
Using Cyclescheme via our Online Store
We are only able to accept Cyclescheme Cycle to Work vouchers online.
We accept Cyclescheme vouchers on both RRP and sale items with NO sale item Voucher Administration Fee, however other Cycle to Work vouchers may incur a sale item Voucher Administration Fee.
If your employer is signed up with Cyclescheme then ordering online with Sigma Sports could not be easier. Simply follow the steps below to order your new bike or equipment online and have it delivered directly to your door. The online ordering process is straightforward and user-friendly, guiding you through each step with ease. Whatever amount you choose must be spent in a single transaction. Please note that it is not possible to add funds (top-up) when using a Cyclescheme Voucher.
Once your order is placed, Sigma Sports will take care of the rest, ensuring a smooth delivery experience.
Using Cycle to Work Vouchers In-Store
In-store we are able to accept a wider range of cycle to work vouchers. Sigma Sports are affiliated with gogeta, Cyclescheme, Vivup, the Bike2Work scheme, Cycle Solutions and Green Commute Initiative, vouchers from all of these schemes are accepted in-store.
The process for using Cycle to Work vouchers in-store is straightforward: simply follow the steps below to redeem your voucher and get your new bike.
Who do we partner with for Cycle to Work?
Administration of the Cycle to Work Scheme can be carried out by your employer or by one of the many companies that offer to act as administrators, the biggest being Cyclescheme. Sigma Sports are affiliated with gogeta, Cyclescheme, Bike2Work scheme, Green Commute Initiative, Enjoy Benefits, vivup, Cyclesolutions, c2w Support, My Benefits, Enjoy Benefits and Salary Extras. Many of these providers are part of the Work alliance, which supports the implementation of the Cycle to Work scheme and promotes a cycling culture in the workplace.
These Cycle to Work scheme administrators issue you with a certificate that, once authorised by your employer, can be exchanged for a new bike and any safety equipment at Sigma Sports. The process for applying and redeeming vouchers is straightforward and supported by both the scheme administrators and your HR department, who can provide further guidance and assistance.
For further information, please contact our customer service team or visit us in store in Hampton Wick, Oakham or Letchworth.
How much can you save with the Cycle to Work scheme?
The Cycle to Work scheme is a government-backed work scheme designed to make cycling to work more accessible and affordable for employees. As an employee benefit, it allows you to purchase a new bike and a wide range of cycling equipment, including essential accessories and safety gear, through a salary sacrifice arrangement. This means the cost of your chosen equipment is deducted from your gross salary before tax and national insurance contributions are calculated, helping you save money instantly. Depending on your tax bracket, you could save between 28% and 42% on the total cost of your new cycle and accessories.
The scheme is a cost effective way to invest in your commute, making it easier to enjoy the benefits of cycling while reducing your overall commuting costs. Whether you’re looking for a new bike, helmet, or other cycling essentials, the Cycle to Work scheme offers a simple and tax-efficient route to better health and a more sustainable journey to work.
Who is eligible to use the Cycle to Work Scheme?
Taking part in the Cycle to Work scheme is straightforward, but there are a few eligibility criteria to keep in mind. Employees must be paid through the PAYE system and, after the salary sacrifice is applied, must still earn above the national minimum wage. According to government guidelines, the cycling equipment purchased through the scheme should be used for commuting to work at least 50% of the time. Employers need to register with a scheme provider, such as Cycle Solutions, to offer this benefit to their team.
The scheme is open to employees of all ages and fitness levels, and covers a huge range of cycling equipment, including bikes, helmets, puncture repair kits, dress guards, and more. By participating, employees can take advantage of the many benefits of cycling to work, from improved physical and mental health to significant savings on commuting costs and a reduced carbon footprint.
What can I include in my order?
You can include most accessories and equipment in your order including a brand new bike, helmet, shoes, clothing and much, much more! With the Cycle to work scheme, you'll be able to save money on a huge range of kit including:
There are a few products types which are excluded, including:
Power meters
Headphones
GPS bike computers and navigation devices
Bike racks for cars
Cameras
Bike boxes and bags
Turbo trainers or rollers
Gift cards
Nutritional products
Discount codes or any other offers cannot be applied against Cycle to Work orders.
Are there any flexi voucher schemes for Cycle to Work?
The Gogeta “Flexi Voucher” is an industry-first solution that lets customers decide how, when and where to spend their tax-free money. All other scheme providers implement processes where a customer applies for a cycle to work voucher which then must be redeemed all in one transaction. With gogeta’s Flexi Voucher, customers apply for a voucher as normal but when it arrives, it has flexible superpowers and can be used multiple times until the balance is fully drawn. The process for redeeming vouchers is simple and user-friendly. So, customers can buy a new bike one month, cycling equipment like a helmet the next month, and when the weather turns a few months later, stock up on lights and waterproof clothing. All from the same cycle to work scheme voucher.
The added benefit of Flexi Voucher is that cyclists who may not want another bike, but do want parts, clothing or accessories, can take advantage of tax free cycling, and not be locked into buying everything at once. The key point in the process is when the voucher balance is fully used, marking a significant milestone for the user. Once the voucher is used, the rest of the process is handled by the scheme provider, making it hassle-free for the customer.
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