NB- You will still be required to put in your credit card details, if you are spending over the voucher amount.

Online Payment FAQs

If you spend over the limit of your Cyclescheme voucher you will be redirected to pay using your credit card, and the outstanding monies will be deducted from your card.

If you spend under the limit of your Cyclescheme voucher, your account will be credited with the remainder of the value of the voucher.

You will then be able to log back on at anytime and spend all or part of the balance which has been credited to your account.

Most Popular FAQs

Your employer needs to apply for an individual consumer credit licence which costs £335, last for 5 years and takes around six weeks to come through.

However, if your employer has decided to limit bike sales to £1000 (retail price including VAT) you can buy safety equipment in excess of this amount and pay the surplus directly to the bike shop who will make the quote out for exactly £1000.

Please note that any excess amount spent on safety equipment is not eligible for tax relief and will fall outside of the salary sacrifice scheme.

There is no credit check.

SBR Sports can order bikes and accessories for you but we may wish to either take a deposit or have any carriage fees covered to prevent us from being left with a special-order bike or paying extra carriage fees.

Any deposits taken on your credit card will be credited back when you redeem your voucher.

A small £10 carriage admin charge will end up costing you a few pence each day..

Remember......You can pay online using your voucher which is quicker, easier and saves you time.

A very small selection of Cyclescheme's partner bike shops may wish to add an administration fee to quotes for custom bikes.

This is because the profit margins on custom bikes, built in the UK, are lower than those available on standard, mass-produced bikes. The shop also has much more administration when building a custom bike as parts have to be ordered in advance and in-house builds coordinated amongst other daily work.

The administration fee is typically no more than 10 to 12% and is ONLY applicable to custom bikes.

It is worth noting that the savings from the scheme are also applied to reduce this administration fee to well below 10%.

Yes.

The Scheme is open to all full, part-time and contract staff whose term of employment is more than the period of the loan (usually 12 months). Staff must have completed any probabtion periods if present.

To take advantage of the tax breaks that result from salary sacrifice please also note:

- You need to be a UK taxpayer via the PAYE system.

- You need to be over 18 years of age to comply with Consumer Credit Act legislation.

- You need to be earning more than the National Minimum Wage after your loan repayment has been deducted.

Cyclescheme's frequently asked questions should cover most queries on the general running of the scheme.

If you would like to make an enquiry regarding the online payment process, or you would like to make an enquiry about the scheme, please use the form below.

General Information on Cyclescheme

Cyclescheme is the UK's number one provider of tax free bikes for work through independent bike shops. Cyclescheme prides itself in giving the best service available with the minimum of administration. The scheme is run in strict accordance to the government's green travel plan and conforms to the requirements of the HMRC, OFT and DfT. They also provide hire agreements for employees and a free secure website for voucher processing.

Cyclescheme is the UK's number one provider of tax free bikes for work through independent bike shops. They are pleased to help you with information on one of the best government tax breaks so far. Cyclescheme's frequently asked questions should cover most queries on the general running of the scheme.

The Cyclescheme calculator will show you the massive savings to be made through Cyclescheme.

If your still not sure how it works, and you would like to find out more about what SBR Sports and Cyclescheme can do for your company, please contact us using the form below.

If you want to get your employer on board, the best thing to do is liaise with them directly.The scheme has to be run through your employer, and you're more likely to be able to persuade them than we are, so it's in your interests to hassle them about it!