Green Commute Initiative. A Cycle to Work Scheme with NO LIMITS on the price of any cycle.
Green Commute Initiativeis the only scheme available specifically for Electric Bikes.
Tell your employer about this great scheme and how to turn £3000 into £3914 in just 12 months.
The Government cyclesheme has been very poular with people wanting to save money and get fit riding a bicycle. This scheme is nothing new and most may be familiar with how these schemes work. For those however, who are not quite so familiar its a simple way to buy a bike and save some money too. The purchase prce of the bike is deducted from your wages over a 12 month period, before you are taxed, decreasing the annual amount of Tax + NI you have to pay. If you wanted an electric bike over the £1000 limit your employer would be required to have a Credit License or be FCA regulated. That's until NOW! PROC2W is an unique new scheme, with NO £1000 limit.
So how does it work?
Green Commute Initiativerequires a willing employer (private or public), a tax paying (PAYE) employee who wants a bike to commute to work on a bike (electric or non-electric), and a bike retailer willing to apply to the Green Commute Initiative. Unlike the traditional scheme, using Green Commute Initiative retailers can make a single application per bike rather than having to subscribe to join a scheme. The scheme also applies to bike accessories and safety equipment used for commuting.
The Green Commute Initiative is just as simple as any other salary sacrifice scheme. however, unlike the others, Green Commute Initiative does not require the need of quote's and waiting around for certificates or paperwork. Simply decide on your perfect Electric Bike, and tell your employer about the Green Commute Initiative. Once you have convinced your Employer that THIS IS A GREAT IDEA. All they need to do is give us a call and buy the bike of your dreams. Then fill out a simple online form. Green Commute Initiative will take over from here.
Once you are fully engaged into the scheme your employer will start to make deductions to your wages, before you are Taxed! Because you are sacrificing your salary before your tax payments are made, you are effectively paying with tax-free money. If you had not entered into the scheme you would have had to pay your Tax Rate and NI contributions on your wages, losing up to 42% of that hard earned cash. The saving's will vary dependant on how much you earn but can be narrowed down into two categories (High Rate tax payers will save 42% - Low Rate tax payers can save 32%) Now your interested, right?
So how do I convince my Employer?
Quite simply, just ask them if they would like to turn £3000 into £3900 in just 12 months. Yes thats right your boss can benefit from this scheme aswell. Because your Gross Salary has been reduced, your employer will pay less towards your National Insurance Contribution. Did you know your employer tops up your NI by 13.9% of your salary? Most employers will be able to offset the costs of the bike onto something called Annual Investment Allowance as well. Boosting there return up to 30%. Now that's an incentive.
Employer? Click here to see how to turn £3,000 into £3,914 in 12 months. Or use The Green Commute Initiative to make tax savings with no outlay!