Getting your bike through the Green Commute Initiative is simple and cost effective. Unlike other schemes it does not have a spend limit so it is ideal for those wanting to buy a ebike that will exceed the £1000 usual limit.
Your employer buys the bike and you pay towards it monthly from your gross salary. Overall your salary is reduced and so is your tax bill - hence the savings. This arrangement usually lasts for around a year. At the end of this period, ownership of the bike is transfered free of charge from your place of work to you.
Here's how it works:
1. Visit us either in person or online and choose a bike.
2. Let your employer know and they can enter the details of purchase directly into the GCI website.
3. Your employer will provide you with a voucher to hire a commuting package of your choice. The package can contain an e-bike or an ordinary bike as well as safety equipment, clothing and accessories, tools and spares.
4. The cost of your voucher is repaid via salary sacrifice. Depending on your tax rate, you’ll save either 32% or 42% on the cost of the package.
5. Because the salary sacrifice period is independent of the hire period, depending on your employer, you can normally choose 6, 12, 18 or 24 month periods. So you can afford a really decent quality e-bike.