There are several Different Cycle to Work Schemes, all of which save the employee money by allowing an employee to purchase an electric bike by “salary sacrifice”. This means that the instalment on your bike is deducted from your salary before Tax and National insurance is deducted.
The Green Commute Initiative is an innovative new Cycle to Work scheme regulated by the Financial Conduct Authority and ideal for electric bikes as there is no £1,000 Limit! It offers up to 42% savings on bikes for employees (depending on your tax status) and can be paid over up to24 months as part of the Government’s Green Transport plan. There is no necessity for small employers to join the scheme and deals can be arranged one at a time. The value of the e-bikes can often can often be financed so there is no impact on the employer’s cash flow. It then becomes a “No Cost Employee Benefit”. The form can be found on line and completed straight away. https://greencommuteinitiative.uk/employees/
If your employer is a member of Cycle Scheme, then you can usually apply on line and you do not even have to nominate a retailer or specific electric bike. Your employer will then be asked to purchase a Certificate of your selected value, usually up to £1000. Though it is worth enquiring as to your employers maximum amount as, for example the Police scheme is £1500. When you receive the certificate, you can redeem it at Axcess- electric-bikes or PC Tonkin at Bugle, St Austell for your chosen e-bike. If the bike is over the value of your certificate, you can sometimes top up the value of the payment, but remember the bike does not legally belong to you till you pay the final 7% fee. https://www.cyclescheme.co.uk/get-a-bike/how-it-works
If you commute by bus or walking, an electric bike is an opportunity to adjust your daily routine. Journeys are made much easier due to the uphill assistance provided by the motor meaning that you can enjoy your commute at a relaxed and steady pace. Realistically, you can average 12 -13 mph on an electric bike and arrive without breaking out in a sweat.
With workplace parking charges becoming a reality, the popularity of the electric bike for commuting can only increase.