Mon - Fri 8.30 - 18.30 / Sat - 10.00 - 18.00 / Sunday - 12:00 - 18:00
47 Barnsbury Street London N1 1TP Phone: 020 7684 0671
Details on our Christmas Day Pudding Ride
Cycle to work scheme
We are a partner shop for the Government's Cycle to Work initiative.
Cyclescheme is the UK's number one provider of tax-free bikes for the Government's Cycle to Work initiative. It's a brilliant programme where everyone wins - employees make big savings on new bikes, employers get a healthier workforce and save money too.
You've probably heard a bit about it already but read more on their own website cyclescheme.co.uk if you want to calculate how much you can save or if you have any questions about how it all works in fine detail.
In the mean time here's an overview from our perspective..
How it works
Step 1. Once an employer has entered into a contract with Cyclescheme (employers can sign up via the cycle scheme website ) any employees wishing to participate need to come into the Micycle shop to choose their bike and, if required, safety equipment.
Step 2. As the employee, you then apply for a Cyclescheme Voucher by finding out their Cyclescheme Employer Code and entering the information provided by the bike shop online. At Micycle, we can do this for you. The employee will usually sign an online Hire Agreement at this time.
Step 3. If your employer approves your application you will countersign the Hire Agreement and pay Cyclescheme for the full retail price of the bike and equipment.
Step 4. Cyclescheme will then issue a Voucher to either the employee or the employer, wherever is requested.
Step 5. The Voucher is then redeemed in the bike shop and exchanged for the bike package. Salary sacrifice then commences over the hire period (usually 12 months).
Step 6. At the end of the hire period the owner of the bike may choose to offer the employee ownership of the bike for a full market value.
Please note that although the above procedure applies to the vast majority of schemes. there are some variations to the above which are a result of the way an employer’s scheme is set up, such as if they are using a finance company see the cycle scheme website for further details.
