How Much Can I Save?
**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.
All bikes on this scheme will be quoted at the list price and not the discounted price.
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% |
