The ‘Cycle to work’ Scheme allows you to purchase a bike/cycling equipment up to the value of £1,000 through the business you work for, then pay back the amount in monthly instalments over the course of 12 months.
The payments will be treated as gross deductions from your monthly salary, providing you with tax and National Insurance relief on the cost of the bike. Upon joining the LLP, any existing agreements to pay off the cost of your bike will remain.
Equally, if you wish to apply to use the Cycle to work scheme as a partner, you are eligible to do this. Please be aware that if someone buys a £1,000 bike through Cycle to work and it then gets, for example, stolen a month later they’ll still need to pay for the bike. As such, we’d always advise insuring bikes purchased through the scheme.