Cycle to work
Fresh air and exercise on your way to and from work
Cycling is growing in popularity, both for the daily commute and for relaxation at the weekend. Each year you can choose a bike and accessories, up to a maximum value of £2,500, and repay the loan, free of income tax and National Insurance, over a year. You can buy most types of bike under the scheme, including mountain bikes and leisure bikes, but they must be suitable for cycling to work.
At a glance
-
Tax savings
-
Flexible benefit
Tax savings
The money you pay for some benefits (such as your pension) is taken from your salary before tax and National Insurance are deducted. This means you don’t pay any tax on the money you use to fund these benefits. For some other benefits (such as tax-free saving for childcare) the tax is added back on to your contribution when the benefit is provided.
Employee funded (EE)
A benefit which you choose to join at an additional cost to you.
Employer funded (EF)
A benefit that is funded by the Company, at no cost to you.
Limited time benefit
You can only sign up to limited time benefits during March, or within three weeks of joining SAP.
Flexible benefit
You can sign up for flexible benefits at any point during the year. Be aware that you can’t always make changes to these benefits at any time during the year, so check on the conditions when you sign up.
