We support the Isle of Man Cycle to Work scheme which is available to all Manx businesses and organisations.
We also support Cycle to Work, Bike for Work and other cycling incentive schemes that are being independently run by local businesses.
The Cycle to Work (C2W) scheme was first introduced in April 2017 and it has proven to be a great success. In the 2018 Budget it was announced that Electric Bikes were being included and the current allowances are: £1,800 for a electric bike and £1,200 for a non electric bike.
We’ve received a lot of enquiries as to how the Cycle to Work scheme works and we hope the below assists. We’re happy to help and advise employers and employees, should you have any enquiries please do not hesitate to contact Emma to discuss this further.
The bike is purchased under the scheme by your employer and you then repay your employer from your monthly salary over 36 monthly payments following the 36th payment you are now the owner of the bike.
All you need to do is call into our shop and browse the selection of bikes we have on display. You can use the scheme to purchase a bike of any value and you can personally contribute to the purchase as long as we only invoice your employer for the sum of £1,200 or £1,800 to follow the Income Tax guide lines.
Following selection of your bike you put in a purchase request with your employer who advises the Income Tax Division they wish to join the scheme and you will be repaying the bike on a monthly basis. Once this is all in place we will issue an invoice to your employer for payment and the bike will be ready for your collection.
Should you choose a bike under the sums agreed above you can also add accessories to your purchase as long as you keep within the agreed amounts. Other items can include, reflective clothing, puncture repair kits, helmet, locks, pedals, pannier racks etc.