Cycling to work is on the increase11/05/2012 Bike to Work
The Government-supported Cycle to Work Scheme has seen a 9 percent increase in take up during the first quarter of this year compared to 2011, reveals the Cycle to Work Alliance. This lobbying group was formed by Cycle to Work scheme third-party facilitators Cyclescheme, Cycle Solutions, Evans Cycles and Halfords.
From January to March 2012, over 23,400 employees have signed up to the scheme through members of the Alliance.
The resurgence in the numbers of individuals signing up to the scheme follows HMRC’s clarification on the tax implications for participating companies.
The salary-sacrificing Cycle to Work scheme allows some employees to save up to 42 percent off of the cost of new bicycles and associated equipment.
Keith Scott, head of business services at Halfords, said: “The Cycle to Work scheme has seen a resurgence at the beginning of the year. The Olympics and Summer of Cycling in 2012, will give cycling another significant boost.
“We hope that backed by continued Government support there will be even greater interest in the scheme and more people commuting to work by bike.”