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Did you know that you could save up to 50% on the cost of a new bicycle and cycling equipment?

This is made possible by the Government's Green Transport Plan which not only aims to reduce environmental pollution and promote healthier lifestyles but also make cycling to work a cost-effective option for employees.

At Fatbirds we offer three of these schemes: Cyclescheme, Bike2work and Bikes for the NHS.

How does it work?

Your employer registers with one of the above schemes (obviously the NHS scheme is only for NHS employees).
You browse our website selection or visit the store and apply for/ obtain a written quote.
Your present your written quotation to your employer for authorisation
Your employer then provides authorisation to the scheme and makes payment to the scheme as per initial written quotation
The scheme issues voucher to you
You then present your voucher to us and collect your bike and equipment
Your Interest Free monthly payments commence

What do you need for a quote?

To provide you with a written quote we need:

A list of your required goods
Your name, address, phone number and email.
Your employers name, address and phone number

You can either visit us with this info or email it to info@fatbirds.co.uk

Unsure what is the right bike for you?
Just email or call (01485 535875) us with a breif description of what you will be using it for and our friendly, knowledgeable staff will be happy to help.

Is my employer already registered with one of these schemes?
If you work for the NHS then yes.
For everyone else: Talk to your HR department or Cyclescheme/ Bike2work representative.

Benefits:

Save up to 50% on the cost of a new bike and equipment
Cost is spread over 12 monthly interest free payments
Save money on travelling costs
Reduce your carbon footprint
Lose weight and tone up
Improve your general health and well-being
Improve mental health and help reduce stress levels
Look good, feel great, save money and help save the planet!

Can I see an example of how the scheme could work?
The table below contains 2 examples, one based on higher rate tax payer with NIC (National Insurance Contributions) above the upper limit nd one on a basic tax rate paying between the lower and upper NIC earnings limit Cost of bike and accessories Cost to employee
Higher rate tax payer paying NIC above upper earnings limit

	Cost of bike and accessories	Cost to employee
		Higher rate tax payer paying NIC above upper earnings limit	Higher rate tax payer paying NIC above upper earnings limit
	£	£	£
Bike RRP	800.00
Safety accessories RRP	100.00
value of goods	900.00
VAT recovered by employer ***	(134.04)
Cost to be charged to employee through salaray sacrifice	765.96	765.96	765.96
Employees PAYE saving through salary sacrifice		(306.38) = 40%	(153.19) = 20%
Employees National Insurance saving through salary sacrifice		(7.66) = 1%	(84.26) = 11%
Cost to employee		451.91	528.51
Saving based on cost of Â£900 **		50%	41%

** Savings are illustrative and are based on the employees PAYE and National Insurance rates in the examples

The savings are reduced if the employer sells the bike to the employee at the end of the hire period.

*** It has been assumed that the employer is VAT standard rated and will pass the benefit of the VAT recovered to the employe

How much can I save?
Savings for both the employee and employer vary. The savings are dependent on an employees personal status, whether the employer is VAT registered and if the employer wishes to pass all the available benefits to the employee or retain some of the benefit to offset against any costs for administering the scheme.

For example, if an employer chooses to pass the VAT recovered to the employee and the employee is a higher rate tax payer, the employee saves approx 50% on the normal Fatbirds price. However as Fatbirds prices are often less than the normal retail prices the employees true saving will exceed 50%. The employer will also make a saving on the employers NIC on the value of the salary sacrifice.

The value of the bike and safety accessories to be made available to the employee is at the discretion of the employer.

How Much Can I Spend?
There is no formal limit on the value of the bike and safety accessories that can be provided and it is possible for an employee to have two bikes if an employee needs a bike at either end of a train journey between home and work.

However, despite there being no formal limit, most employers are limiting the value of bike and safety accessories made available to each employee to Â£1,000. This is because the OFT have issued a Group Consumer Credit Licence for employers adopting the Cycle to Work scheme up to a value Â£1,000. This means that if the value of the goods is under Â£1,000 the employer does not need to apply for a Consumer Credit Licence for the scheme. If the value of the goods exceeds Â£1,000 the employer will need to apply for a separate Consumer Credit Licence.

You can buy any bike and cycle safety equipment.
Safety equipment is not defined in legislation but the Department of Transport have indicted that it can include the following:

Cycle helmets
Bells and horns
Lights and dynamo packs
Mirrors and mudguards
Cycle clips and dress guards
Pumps, puncture repair kits, cycle tools and tyre sealant to allow for minor repairs
Reflective clothing
White front reflectors and spoke reflectors
Panniers, luggage carriers and straps to allow luggage to be safely carried
Locks and chains to secure the bike

As the above list is not defined in legislation and has been prepared by the Department of Transport employers may wish to confirm with their local tax inspector that they agree with the guidance given.

What do I do is I have any further questions?
Please email us at info@fatbirds.co.uk