CYCLING is a great way to keep fit, has great health benefits, a low carbon footprint, and once you have bought your bike and helmet, is a completely free form of transport.
Firms in south Wiltshire, Hampshire and Dorset can sign up for the Co-op’s Cycle to Work initiative.
Co-operative Employee Benefits’ initiative is being supported by the government through tax and National Insurance exemptions, saving employees up to 50 per cent of the cost of a new bike and safety accessories.
This is how the initiative works: - The employer buys the bike chosen by the employee and hires it to them for 12 or 18 months.
The member of staff pays the employer in monthly instalments, directly out of salary, therefore they do not pay tax or National Insurance on this value.
They then have the option to purchase the bike at the end of the hire term.
Co-operative Employee Benefits’ area manager Robert Knox said: “Employees can spend anywhere between £100 and £1,000 on a bike and safety accessories, which can work out to as little as £5 per month.
“If the employee takes advantage of the full £1,000, a saving of £412.77 can be gained.”
The Cycle to Work initiative supports the Co-operative movement’s commitment to promoting healthy living and reducing pollution.
For more information, visit employeebenefits.coop/info/cycle-towork.
* Cycling Opportunities Group (COGS) Salisbury offers Sunday bike rides on the third Sunday of each month throughout the year. Distances vary but generally the rides start at 10am and incorporate a lunch stop. For more information, contact Gill or Jimmy on 01722 325608.
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