This is a Cycle to Work Bike

Click the link below for more info on Cycle to Work:
www.tredz.co.uk/help-advice/c...
What Is Cycle To Work?
The Cycle to Work scheme is a great way to get up to 42% off the price of a new bike and safety equipment.
This government backed salary sacrifice scheme is available to PAYE employees in the UK and is the most cost-effective way to get a bike for commuting. You can even get an e bike to make your commute easier. Save money with tax free bikes.
How Does The Cycle To Work Scheme Work?
Cycle to work is a salary sacrifice scheme. This means the cost of a new bike and cycling equipment is deducted from your salary as a non-cash benefit, so you save on tax and national insurance. Your employer buys the bike for you to ride to work and you ‘hire’ it from them. The ‘hire’ period is usually 12 or 18 months with monthly payments taken directly from your payslip before tax deductions.
As you don’t pay income tax or national insurance on the scheme payments you will save between 32% and 42% (depending on your tax band) on the overall cost of your new bike and accessories. Although your employer owns the bike, effectively it’s yours to use as you wish throughout the ‘hire’ period.
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