Cycle to Work Scheme
Save up to 47% off a new bike with Cycle to Work Scheme
What is Cycle to Work?
To promote healthier journeys to work and to reduce environmental pollution, the 1999 Finance Act introduced an annual tax exemption, which allows employers to loan cycles and cyclists' safety equipment to employees as a tax-free benefit. The exemption, known as the Cycle to Work Scheme, was one of a series of measures introduced under the Government's Green Transport Plan.
Who do we partner with?
Administration of this scheme can be carried out by your employer or by one of the many companies that offer to act as administrators, the biggest being Cyclescheme. Sigma Sports are affiliated with gogeta, Cyclescheme, Bike2Work scheme, Green Commute Initiative, Enjoy Benefits, vivup, Cyclesolutions, Salary Extra/Caboodle, My Benefits, Enjoy Benefits and Salary Extras. These Cycle to Work scheme administrators issue you with a certificate that, once authorised by your employer, can be exchanged for a bike and any safety equipment at Sigma Sports.
How does it work?
Cycle to work schemes allows employers to offer their employees the use of a bike for commuting in exchange for a salary sacrifice. The salary sacrifice enables the employees to use their gross pay to reimburse the employer for the cost of the bike. The gross pay is before tax, so the employee saves the tax and national insurance which would have been due on the amount sacrificed. It also allows employees to spread the cost over monthly pay packets, making the acquisition more affordable.
How much can I spend?
Your Employer will decide on the scheme limits of value and for how long the agreement is for. They are usually decided on an affordability matrix.
How/when can I spend it?
Gogeta, from 10/10/2023, has announced the launch of “Flexi Voucher”, an industry-first solution that lets customers decide how, when and where to spend their tax-free money. All other schemes processes are that a customer applies for a voucher which then must be redeemed all in one transaction. With gogeta’s Flexi Voucher, customers apply for a voucher as normal but when it arrives, it has flexible superpowers and can be used multiple times until the balance is fully drawn. So, customers can buy a bike one month, a helmet the next month, and when the weather turns a few months later, stock up on lights and waterproof clothing. All from the same voucher.
The added benefit of Flexi Voucher is that cyclists who may not want another bike, but do want parts, clothing or accessories, can take advantage of tax free cycling, and not be locked into buying everything at once.
Can I choose sale items?
Yes, but bikes and accessories reduced from the full RRP (Sale) are subject to a sale item Voucher Administration Fee. This % charge is dependent on the scheme provider used. To find out more contact us for a quote.
We accept gogeta vouchers on both RRP and sale items with NO sale item Voucher Administration Fee.
What can I include in my order?
You can include most accessories in your order, however these products are excluded, Power meters, Headphones, GPS bike computers and navigation devices, Bike racks for cars, Cameras, Turbo trainers or rollers, Gift cards and Nutritional products.
Discount codes or any other offers cannot be applied against Cycle to Work orders.
Order Online Using Cyclescheme
If your employer is signed up with Cyclescheme then ordering your bike online with Sigma Sports could not be easier. Simply follow the steps below to order your new bike online and have it delivered directly to your door. Whatever amount you choose must be spent in a single transaction. Please note that it is not possible to add funds (top-up) when using a Cyclescheme Voucher.
These products are excluded, Power meters, Headphones, GPS bike computers and navigation devices, Bike racks for cars, Cameras, Turbo trainers or rollers, Gift cards and Nutritional products. We accept Cyclescheme vouchers online and in store. Discount codes cannot be applied against Cyclescheme orders.
Step 1
Use your employer's unique Cyclescheme code to submit your online application via Cyclescheme and enter Sigma Sports' store code 'SIGMA012' when prompted.
Step 2
Receive your Cyclescheme voucher.
Step 3
Add items to your basket.
Step 4
Checkout using Cyclescheme by entering your voucher code and redemption code.
Step 5
One of our qualified mechanics will prepare, build and thoroughly inspect your bike prior to delivery.
Step 6
Your new bike will be delivered direct to your door with minimal assembly required.
Using Cycle to Work Vouchers In-Store
In-store we are able to accept a wider range of cycle to work vouchers. Sigma Sports are affiliated with gogeta, Cyclescheme, Vivup, the Bike2Work scheme, Cycle Solutions and Green Commute Initiative, vouchers from all of these schemes are accepted in-store.
Follow the steps below to use the Cycle to Work vouchers in-store.
Step 1
Your employer needs to be registered with one of the above Cycle to Work schemes. They can find out how to do this from information on one of the Cycle to Work Scheme websites (see above).
Step 2
Visit Sigma Sports, choose the bike and, if required, safety equipment and get a quotation.
Step 3
You apply for a Certificate online using the relevant Cycle to Work Scheme website. Your employee will usually sign an online Hire Agreement at this time.
Step 4
Once approved, a Certificate will be issued to either your employer or directly to you, whichever is requested.
Step 5
The Certificate is then redeemed at Sigma Sports in exchange for the bike package. Salary sacrifice then commences over the hire period (usually 12 months).
Step 6
At the end of the hire period the owner of the bike may choose to offer the employee ownership of the bike for a full market value.
Although the above procedure applies to the vast majority of schemes there are some variations that are a result of the way an employer’s scheme is set up, typical examples would be if they are using a finance company or a benefits provider.
Bikes and accessories reduced from the full RRP (Sale) are subject to a sale item Voucher Administration Fee. This % charge is dependent on the scheme provider used. To find out more contact us for a quote.
We accept gogeta vouchers on both RRP and sale items with NO sale item Voucher Administration Fee.
Discount codes or any other offers cannot be applied against Cycle to Work orders.