Bike2Work Scheme

[Booldawg]

I'm trying to work how you save money on the price using this scheme. I know its something to do with tax deductions from your wages.

In simple terms, how does it save money and how much do you save?

[fiction-factory]

I assume the payments you made are made from your gross wage before tax is deducted, thereby leaving you with a lower taxable income and hence a lower tax charge.
The gov.uk site probably has a link about this

[fiction-factory]

Or maybe the employer can simply give you the bike and it won't be taxed as a benefit in kind. The employer may give the bike in return for a small reduction in your gross pay, so you save on tax and they save on employer NIC.
http://en.wikipedia.org/wiki/Cycle_to_Work_scheme

[alavahalf]

http://www.bike2workscheme.co.uk/?utm_source=google&utm_medium=cpc&utm_term=bikes%2Bto%2Bwork&;utm_campaign=Bike%2B2%2BWork%2BScheme&;gclid=CODvzbnJ1MQCFQLMtAodh0kAxw