Save up to 39% on bicycles & equipment
The Cycle to Work Scheme is a Government initiative that allows you to save up to 39% on a bicycle and/or safety equipment. Condor Cycles participates in a number of popular Cycle to Work schemes, saving you money on both your bike and your commute to work.
Frequently asked questions
Think it sounds too good to be true? We promise you it isn’t!
As part of the Government’s Green Transport Plan, employers are able to provide cycles and safety equipment to employees as a tax-free benefit.
Employees hire bicycles from their employer, and can buy them at the end of the salary sacrifice period at fair market value.
The employer buys the bike and safety accessories at full retail price. The balance is recovered from a reduction in the employee’s gross salary, and employers also benefit from National Insurance contribution savings.
The net result? You make a saving when purchasing through the scheme!
The government scheme does not have a spend limited, allowing you to purchase any bike, including cargo bikes, Brompton electric, road bikes and mountain bikes and you can also add in safety accessories and cycle clothing. There is no limit to the amount you can spend on either of these, though your employer may set a limit.
The total price of the bike and safety accessories is deducted from your salary in equal installments over a period of time (typically 12 or 18 months), but since this is deducted before tax, you don't pay PAYE or NI on the income you forego.
At the end of the term, your employer will give you the option to purchase the bike for a nominal fee.
There is no specified number of days that the bike has to be used for cycling to work, nor do you need to record the number of rides to work.
Yes. If you or your employer is not based in London and you are unable to visit us in store, you can discuss your needs and bicycle requirements with us via phone or email and we will ship the bicycle to you. Upon receiving your scheme voucher, please note that any delivery fees are paid for outside of the scheme i.e. do not qualify for tax relief.
You are responsible for maintaining and insuring the bike during the hire period. Condor Cycles has a fully equipped workshop offering a range of servicing options. We also stock range of cleaning and maintenance tools.
We recommend that you invest in a lock with a ‘Sold Secure’ rating and get your bike insured. If your bike is stolen, you’ll still have to repay your employer from your net pay, without any tax savings.
Yes, though since we have to pay a fee to the scheme administrators when we supply a bike, we add a small surcharge for admin costs as the bike has been discounted.
Yes. As of 2019 the government relaxed the rules of the scheme allowing you to purchase a frame, components, or clothing and accessories with the voucher. Car racks, turbo trainers, cameras, GPS and children’s bikes are not available through any Cycle to Work schemes.
At the end of the hire period employees may be given the opportunity to buy the bike for a fair market value, though this is not an automatic entitlement. The fair market value cannot be stated before or during the hire period as this could be considered a benefit in kind and therefore not be eligible for tax benefits. Many employers opt for one of the schemes to take ownership of the bikes at the end of the hire term and offer a sale to the employee via the scheme.
Once signed, the hire agreement is non-cancellable following a cooling-off period of 7 working days from collection of the goods. This means that if an employee leaves or is made redundant from their employment during the hire period, they are obliged to pay the remaining salary sacrifice amount in full from net pay, i.e. without any tax exemptions.
Due to the nature of our custom-built bikes, we levy a custom charge of 6% on Condor bikes when accepting a Cycle to Work voucher. On Cyclescheme specifically, the custom charge applies only up to a value of £3,000, so if the bike costs more than this, there is no custom charge on the amount above it. This will only be charged on custom built bikes and not Brompton bikes or accessories.
It is important to remember that, even with this factored in, the benefit of buying through Cycle to Work far outweighs the charge.