Save up to 50% of the cost of your electric bike

Here's how you can share the cost of your electric bike with your employer.

1 Your employer can deal with 50cycles directly and administer the scheme themselves. More and more employers run this salary sacrifice scheme in-house. You choose the bike you want and we send an invoice to your employer, who does the rest.

2 Alternatively, you can go through a company called Cyclescheme. Ask if employer is using the scheme - if they are, you will be given access to a form like this through which you can request a voucher to use as payment.

3 There is also another way to spread the cost of your electric bike, through our interest-free and classic finance payment packages.

"The Cycle to Work Initiative saves employees 30-50 per cent of the total cost of a bicycle and accessories. The company buys the bicycle for you and then leases it back to you, usually for 18 months. At the end of the lease period you buy the bicycle for about the cost of one month's lease. The employee saves money by not paying any VAT and as the repayments are taken out of the gross monthly salary, a further 22% in income tax and 11% NI contributions are saved." The Observer newspaper

Here's an example of how it works for our popular Kalkhoff Agattu

Cost of bicycle £1495.00 inc. VAT RRP

Maximum amount covered by scheme is £1000
You pay the difference, £495 to cover batteries, delivery

Leaving £1000
Less VAT (£148.94)
Net Cost £851.06

18 Monthly lease payments of £47.28 = £851.06
Less employees NI contributions @ 11% = £140.42
Less employees Income Tax @ 22% = £280.85

Total Cost of bicycle over 18 months: £429.79 + £495 = £924.79
Total saving: a whopping £570.21 on £1495 (about 38%)!

If you are on a higher tax band clearly the savings could be greater . The initiative will not affect your pension.

If you're interested and think you will be eligible (most employees are), please use the form and we'll contact you as soon as possible:

Or you can contact us on 0800 0288 116 or by email

NB All bikes sold under the cycle scheme are sold at list price - discounts do not apply as we are charged a significant commission by the scheme operators.

The DfT's information page has all the detail relating to the scheme and how it should be run.