Cycle to Work Scheme
Save up to 42% off a new bike with Cycle to Work Scheme
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. The exemption, known as the Cycle to Work Scheme was one of a series of measures introduced under the Government's Green Transport Plan.
Administration of this scheme can be carried out by your employer or by one of the many companies that offer to act as administrator, the biggest being Cyclescheme. Sigma Sports are affiliated to Cyclescheme, the Bike2Work scheme, Green Commute Initiative, Cycle2work, Enjoy Benefits, Salary Extras, Free2Cycle and CycleSolutions. These Cycle to Work scheme administrators issue you with a certificate that, once authorised by your employer, can be exchanged for a bike and any safety equipment at Sigma Sports.
Order Online Using Cyclescheme
If your employer is signed up with Cyclescheme then ordering your bike online with Sigma Sports could not be easier. Simply follow the steps below to order your new bike online and have it delivered direct to your door.
Please note: We only accept Cyclescheme vouchers online, if you would like to use a different scheme to pay for your bike, please contact us so we may assist you or visit us in store to proceed. Sale bikes and accessories are subject to a 10% of voucher total charge. Eg: a sale bike purchased with a £1000 voucher will be subject to a £100 charge. Discount codes cannot be applied against Cyclescheme orders.
Use your employer's unique Cyclescheme code to submit your online application via www.cyclescheme.co.uk and enter Sigma Sports' store code 'SIGMA012' when prompted.
Receive your Cyclescheme voucher.
Add items to your basket.
Checkout using Cyclescheme by entering your voucher code and redemption code.
One of our qualified mechanics will prepare, build and thoroughly inspect your bike prior to delivery.
Your new bike will be delivered direct to your door with minimal assembly required.
In store we are able to accept a wider range of cycle to work vouchers. Sigma Sports are affiliated to Cyclescheme, the Bike2Work scheme and Cycle2Work, vouchers from all of these schemes are accepted in store.
Follow the steps below to use cycle to work vouchers in store.
Your employer needs to be registered with one of the above Cycle to Work schemes. They can find out how to do this from information on one of the Cycle to Work Scheme websites (see above).
Visit Sigma Sports, choose the bike and, if required, safety equipment and get a quotation.
You apply for a Certificate online using the relevant Cycle to Work Scheme website. Your employee will usually sign an online Hire Agreement at this time.
Once approved, a Certificate will be issued to either your employer or directly to you, whichever is requested.
The Certificate is then redeemed at Sigma Sports in exchange for the bike package. Salary sacrifice then commences over the hire period (usually 12 months).
At the end of the hire period the owner of the bike may choose to offer the employee ownership of the bike for a full market value.
Although the above procedure applies to the vast majority of schemes there are some variations which are a result of the way an employer’s scheme is set up, typical examples would be if they are using a finance company or a benefits provider.
Bikes and accessories reduced from the full RRP are subject to a 10% of voucher total charge. Eg: a sale bike purchased with a £1000 voucher will be subject to a £100 charge. Please note that Cycle2Work vouchers will attract a 15% charge on sale purchases.
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