freetown sports cycle2work scheme
how it works
Freetown's cycle2work scheme makes it as easy as possible for you to take maximum advantage of the benefits on offer through 5 simple steps:
- 1. Employer becomes a member of the Freetown Sports Cycle2Work programme
- 2. Employee chooses bike and accessories from Freetown Sports
- 3. Employer asks Freetown Sports for a voucher which covers the retail price of the purchase
- 4. Freetown Sports invoices the employer for the voucher amount and the voucher is posted to the employee's home
- 5. Employee redeems voucher in any Freetown Sports store or the Freetown Sports mail order service and the salary sacrifice begins in his or her next salary
- It's that easy!
Important points to be aware of:
- Bicycles bought under the C2W programme must be used primarily for travelling to and from work, and they must be suitable for that purpose
- VAT may be reclaimed on bicycles if they are purchased to implement a green travel plan, reduce car use or increase staff health levels
- Leavers or retirees from your company become responsible for any outstanding amounts. These are usually subtracted from final salary payments, and become a taxable benefit
- At the end of the lease period, the employer may transfer title of the goods to the employee