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Bike to Work 

 

Edinburgh Napier has partnered with Cyclescheme.co.uk  to offer this employee benefit that saves you on the cost of a bike or accessories.  Employees pay nothing upfront, and the repayments are taken tax efficiently from your salary over a 12 month period.

 

 

How does the scheme work?

 

The University pays for the full cost of the bike and any safety equipment. You then pay this back by way of a salary sacrifice arrangement under a Hire Agreement between you and the University. This means that you agree to sacrifice an amount from your salary each month in return for the benefit of a bike and safety equipment.

Savings are made because salary sacrifice reduces your gross pay. This, in turn, reduces the amount of Income Tax and National Insurance that you pay each month. Savings are dependent on your personal tax code but will can be between 26-40% over the hire period.

 

 

Who is eligible to join the scheme?

 

The scheme is open to all staff employed on contracted hours, whose contracts run for at least the length of the agreement (12 months) and who do not drop below the Real Living Wage once the loan repayment has been deducted.  If you are unsure if you are eligible, please contact payroll@napier.ac.uk

 

The bike must be used mainly for qualifying journeys, to and from your place of work.  At least 50% of the time it is in use.  The qualifying journey can be whole or part, for example to the train station or between offices.

 

 

How do I get my bike?

 

Step 1.

Check what you can save and find your local partner store online at www.cyclescheme.co.uk/999de5. You will then need to visit your chosen store to select your bike and equipment and receive a written quote.

 

Step 2.

Apply for your Cyclescheme Certificate www.cyclescheme.co.uk/999de5​ , entering the details from your quote form and sign the agreement.

 

Step 3.

The University then approves your application, countersigns the Hire Agreement, and pays Cyclescheme the full retail price of the bike and equipment. This process can take up to 4 weeks.

 

Step 4.

Cyclescheme will then send you your Certificate.

 

Step 5.

The Certificate is then redeemed in the bike shop and exchanged for the bike package.

 

Step 6.

At the end of the hire period, Cyclescheme will contact you to discuss your end of hire options. The most attractive option is to pay either 3% (if your bike package was under £500) or 7% (if your bike package was over £500) of the original cost to enter into a 3 year extended agreement with Cyclescheme. During this agreement you will not be expected to make any further payment and ownership of the bike will transfer to you at the end. You may change employers during the agreement or use the scheme again if you wish. 

 

 

Please contact Cyclescheme helpdesk on 0344 879 5101info@cyclescheme.co.uk for more information, visit http://www.cyclescheme.co.uk/employers/employer-faqs#/getting-a-bike/faqs/what-happens-at-the-end-of-the-hire-period for more information about end of hire options, or link to Cyclescheme’s website end of hire video http://vimeo.com/26711889.

 

 

Important points to consider

 

There are a number of important points staffs should consider before deciding to take part in the Bike to Work scheme – you can review How it works here or you can contact Cyclescheme helpdesk on 03448 795101, info@cyclescheme.co.uk for more information.

 

Most employees will benefit from the Cycle to Work scheme but in some circumstances, it may not be advantageous to join.

 

Benefit payments

There may be an impact on your entitlement to benefit payments such as statutory maternity or paternity pay, statutory sick pay and working tax credit, as they will be calculated on your reduced pay.

 

State pension

There may also be an impact on your state pension. We advise you to seriously consider the effect that a reduction in pay may have before you decide to join the scheme.

 

Financial advice

If you are unsure about whether or not, you should participate in the Cycle to Work scheme you should seek your own financial advice.

 

Further advice

If you are unsure about whether or not you should participate in the Cycle to Work scheme, you should seek your own financial advice.

 

Ownership

The bike and equipment will remain the property of Edinburgh Napier University until the end of the 12 month hire period. Therefore:


 • you bear the entire risk of loss, theft, damage or destruction of the bike and equipment. If at any time during the hire agreement the equipment is lost, stolen or damaged to the point of no longer being usable for commuting, you will still be responsible for making any remaining payments. You are strongly advised to obtain insurance, which may be included in your home contents insurance.
 • you must not hire out, profit from, sell, transfer or otherwise dispose of the bike and equipment.
 • you must not make alterations to the bike or take it out of the UK during the hire period.
 • as Bike to Work is a hire agreement you do not have legal title of ownership on the equipment.
 • if you cease employment with the University before the end of the hire period, the outstanding balance will be deducted from your last net salary payment. This will mean that you lose any tax and National Insurance saving on any outstanding balance.

 

 

Frequently Asked Questions

(for further FAQs please go to http://www.cyclescheme.co.uk/employers/employer-faqs)

 

What is the maximum I can spend?

The limit set for employees is £3000.

 

Can I get equipment-only through the scheme?
Yes, you may request equipment-only through the scheme but only if you do not have an existing salary sacrifice in place for a bike. Useful if you have already got a bike!

 

What equipment can I get?
Lights, including dynamo packs; locks and chains; mirrors and mud guards; helmets; reflective and high-visibility clothing and accessories; pumps, puncture repair kits and cycle tool kits.  This list is by no means exhaustive, if in doubt please contact Cyclescheme.   Component bike parts are not allowed through the scheme.

 

Who is responsible for maintaining the bike and what happens if it is stolen?
It is your responsibility to maintain the bike. Cyclescheme Partner Shops will be able to advise about maintenance and servicing depending on how the bike is used and stores offer a free first service, usually after 6 weeks. If the bike is stolen, as long as you replace the bike and continue to use it mainly for commuting purposes, the salary sacrifice reductions can continue as normal.

Cyclescheme strongly recommend that you insure the bicycle and safety equipment as soon as it is collected from the store.

 

Does the bike have to be used for commuting?
You should use the bike mainly for commuting to and, if relevant, between work places (at least 50% of the bike’s use should be for work purposes). However, the bike can also be used for non-work purposes and there is no need for you to keep a mileage log, as long as the main use is qualifying journeys to and from work.

 

What happens if I leave my job during the hire period?
Once signed, the Hire Agreement is non-cancellable following a cooling-off period of 7 working days following collection of the goods. This means that if you leave during the hire period you are obliged to pay the remaining salary sacrifice amount in full from net pay i.e. without any tax exemptions. You will be contacted by Cyclescheme regarding your end of hire options as normal.

 

 

 

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