Projectlink Motivation - Bikes
Bike4work is a salary sacrifice arrangement, whereby the employee agrees to a regular reduction from gross salary for a stipulated period
This amount, free of tax and National Insurance Contributions, is used to pay the employer for the use of their bicycle
These concessions reduce the cost to the employee by 30%-40%, according to the rate of income tax applicable and their NI position
There is also a NI saving for the employer which can either be retained or ‘recycled’ to subsidise the scheme
Partners
Halfords is the country’s leading cycle retailer, with a national network of stores that will not only supply cycles but a full range of accessories and services
Cranmer Lawrence is our finance partner, able to assist clients in deciding whether to lease or purchase cycles for their staff. They can make financial arrangements and eliminate the need for capital outlay by spreading the employer’s costs over the employee repayment period