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How Much Can I Save?

Bike Shop Birmingham, Bike Servicing, Cycle to Work Scheme

**With the cycle to work scheme, you can get a tax-free bike to cycle to work.**

For most people this means they save about 32% of the cost or for higher rate tax payers, 42% of the cost.

Check how much you could save here (http://www.cyclescheme.co.uk/calculator)

BASIC RATE TAXPAYER

Certificate Value £1,000.00
Gross Monthly Salary Sacrifice payments £83.33
Income Tax Savings £16.67
NI Savings £10.00
Net Salary Sacrifice £56.67
Overall Saving £320.00
Overall Saving 32%

HIGHER RATE TAXPAYER

Certificate Value £1,000.00
Gross Monthly Salary Sacrifice payments £83.33
Income Tax Savings £33.33
NI Savings £1.67
Net Salary Sacrifice £48.33
Overall Saving £420.04
Overall Saving 42%

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