Bird has partnered with all the big Cycle to Work schemes so you can benefit from tax savings on your next bike. Many employers now have no limit on the certificate value, so by using your employers’ scheme you can build your dream Bird bike or frameset and save money.
To administer the schemes, Cycle to Work companies charge a commission to the business where the voucher is being used. This commission is in the form of a percentage of the voucher value, and each scheme charges the businesses a different amount.
|Cycle to Work Scheme||Commission|
|Cyclescheme||8.5% (£255 maximum)|
|Green Commute Initiative||5%|
We understand that not everyone has access to a cycle to work scheme, and instead of raising our prices across our full range, we choose to pass on the commission charged by the cycle to work company to the customer. Under the terms of our agreement with the cycle to work schemes, and unlike most bike shops, we can do that.
There are two options you have for making this payment:
Elect to pay the commission fee and any amount over the voucher/scheme value
To pay the commission fee and any amount over the voucher/scheme value the calculations is as follows:
[Bike Value] – [Voucher – (Voucher*(admin%/100))]
For example, a £3000 bike with a £2000 CycleScheme (8.5% admin) voucher you would apply the following:
£3000 – [£2000 – (£2000*(8.5/100))] which gives you £3000 – £1830 = £1170
We credit the voucher value after the commission has been deducted (£1830 in this example) and send you a separate order to pay for the balance (£1170 in this example).
Add the commission fee to the application to cover the whole amount.
To add the commission fee to your cycle to work voucher application, then the calculation is as follows:
[Bike Value] / [(100-admin%)/100)
For example, a £2000 bike on CycleScheme (8.5% admin) you would apply the following:
£2000 / ((100-8.5)/100) which gives you £2000 / 0.915 = £2,185.79
By applying for £2185.79 you would cover 100% of the cost and also get the tax savings on the whole amount.
If you’d like to go ahead it’s really easy; just select Cycle To Work at the checkout (nothing to pay there and then), email us your Cycle To Work info, and we’ll be in touch to sort out vouchers and any payments required.