Savings for staff with Bicycles+

The University and Edinburgh Bicycle Cooperative are offering staff substantial savings on the cost of a new bicycle.

The scheme, Bicycles+, is a staff benefit delivering the Government’s Cycle to Work initiative.

This is promoted as a green transport tax incentive scheme to encourage employees to cycle to and from work and around their workplace.

How it works

Choose a bicycle.

The University then formally purchases the bicycle, plus any related safety equipment you might need such as lights and a helmet.

The University then leases the bike and equipment to you over a 12-month period in exchange for you entering into a hire agreement.

Potential savings

You lease the bike and equipment via 12 monthly salary sacrifice deductions from your gross pay, before the usual tax deductions.

By the end of the 12-month period you will have paid for the total cost of the bike, but free of tax and national insurance.

This could result in significant savings, depending on your tax rate.

Bicycles+ is open to all employees to join until 5 July 2009.

Bicycles+ is an opportunity for staff who already cycle to upgrade to a better bike which improves the whole cycling experience and encourages them to cycle more frequently.