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16 May 2025

ACT parent company Bira has said that members are hopeful the warm weather, Easter weekend and upcoming bank holidays will provide a much-needed boost to high street sales.

15 May 2025

UK economy delivers strongest quarterly performance in a year despite forecasts of business downturn.

15 May 2025

A new e-bike hire scheme is set to launch in Edinburgh on a two-year trial basis, with the aim of having bikes on the streets ahead of this summer’s Fringe Festival.

14 May 2025

The City of London’s ‘Square Mile’ has seen the biggest increase in cycling since records began, with daily numbers rising past all previous counts.

13 May 2025

Local Bike Shop Day 2025 brought a wave of...

12 May 2025

A doctor left with life-changing spinal injuries after the front forks of his gravel bike snapped during a ride has secured a £4.5 million settlement following a prolonged legal battle.

8 May 2025

ACT parent company Bira has welcomed the Bank of England's decision to reduce interest rates from 4.5% to 4.25%, calling it a "much-needed boost" for the retail sector, including for cycling...

8 May 2025

ACT parent company Bira has responded to the news that the 144-year-old Beales department store is staging a "Rachel Reeves Closing Down Sale" in its final weeks of trading, with giant yellow...

2 May 2025

Could the UK cycling industry be showing signs of renewed momentum? Following a challenging period marked by falling sales and overstocked inventories, overall trends and sales figures from...

2 May 2025

The Netherlands is set to legalise electric scooters and other light electric vehicles on public roads from July 2025, provided they are registered and display a license plate.

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Focus back on Cycle to work schemes

Posted on in Business News , Cycles News

With the weather (hopefully) improving and the drive towards more active pathways gaining momentum, there is likely to be a renewed focus on cycle-to-work schemes as an attractive way to finance a move into cycling.

Cycling alongside tram

Since 1999 the Government’s Cycle to Work scheme has helped over a million UK workers get people moving and reduce carbon emissions associated with travelling.

The cycle-to-work scheme works, very simply, by hiring a bike that your employer has purchased and repaying them through monthly instalments over an agreed period. Once this period has elapsed, you’ll be given the option to pay off whatever is outstanding to fully ‘own’ the bike yourself. The cycle-to-work scheme is essentially a salary sacrifice; you are sacrificing a portion of your salary for the benefit of the bike.

The minimum term of the salary sacrifice is generally 12 months, with some schemes and employers offering 36 or 48-month options too. How long you can spread your monthly payments will largely depend on the scheme, your employer, and your own working circumstances.

The scheme is particularly cost-effective because the monthly instalments are taken from your gross salary, which means that your tax and national insurance will be calculated on your salary less the cost of the bike (and any accessories you’ve added). You are therefore reducing your taxable income, which ultimately means you’re taxed less across the hire period.

Cycling News have run a great “all you need to know about…” article on the Cycle To Work scheme, which you can access here: https://www.cyclingnews.com/features/cycle-to-work-scheme-everything-you-need-to-know/

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