C & D Cycles Ltd 19 Montagu Street, Kettering, Northants,
Make big savings on a bike for work with Cyclescheme
|What are the benefits?|
How much can I save?
This is an example of how savings are made for basic and higher rate tax payers on a £1000 bike package hired over a 12 month period.
|Higher Rate||Basic Rate|
|Bike package retail price||£1000||£1000|
|Income tax saved & NI saved||£348.93||£280.85|
|Monthly repayments from gross salary||£70.92||£70.92|
|Net monthly payments||£41.84||£47.52|
|Total cost of bike package||£502.13||£570.21|
|How does it work?|
* VAT saving is not applicable to all companies. Consult your employer.