Welcome to Pauls Cycles

At Pauls Cycles we’re all about great value and helping you to Ride More, that’s why we specialise in selling end of season stock at up to 50% off. From heavy hitting Full Suspension Enduro Bikes to KOM chasing Road Bikes and Balance Bikes to freedom inspiring e-Bikes, we love all things bike and are passionate about helping you find the perfect bike.

13 Yaxham RoadDereham Norfolk NR19 1HB

Cycle to Work scheme

   Words by Pauls Cycles

   on 10/12/2018 10:19:20

Tax is complicated, but the cycle to work scheme is not.

This popular employee benefit is a great way to save even more on our wide range of new bikes and accessories. Choose a bike, hire it for an agreed length of time from your employer using pre-tax salary sacrifice meaning you pay less tax and then snap it up for a fraction of its value at the end of the period.

Cyc Scheme

How does the Cycle Scheme work against sale items?

Whilst we accept vouchers from a wide range of Cycle Scheme providers, ultimately they are all middle men between your employer and us and as such take a commission fee of generally 10 – 15% of the face value of your voucher.

Against sale items, we have to pass that commission fee onto you. It’s important to note, Pauls Cycles doesn’t make any extra money from this, and you’ll still make a big saving using the scheme.

Example of providers taking 10% commission

A voucher of £1000 gives you a credit of £900 to use against the cost of a bike and accessories.

If you purchase a bike of less than £1000 then the commission fee can be factored into your voucher.

Cost: £500 + Commission fee of 10%

£500 x 1.11 = £555

£555 will be the figure shown on your Cycle Scheme Quote and Voucher, so that the commission is included into the agreement.

The provider takes their 10% and Pauls Cycles receives the everyday sale price of the bike.

Example of providers taking 15% commission – the Halfords scheme

A voucher of £1000 gives you a credit of £850 to use against the cost of a bike and accessories.

If you purchase a bike of less than £1000 then the commission fee can be factored into your voucher.

Cost: £500 + Commission fee of 15%

£500 x 1.176 = £588

£588 will be the figure shown on your Cycle Scheme Quote and Voucher, so that the commission is included into the agreement.

The provider takes their 15% and Pauls Cycles receives the everyday sale price of the bike.

Bikes over £1000

Generally, the maximum we can quote for is usually £1000 (unless your company has a consumer credit licence) and on a sale bike purchase this would give you a credit of £900 or £850 if using the Halfords Scheme.

We are more than happy to accept ‘top up’ payments if you wish to buy a bicycle over £1000, but you should ensure your company is happy for you to do this, as should you leave your company before the end of the contract there could be a conflict of ownership.

Your ‘top up’ payment is not subject to any additional charges; the commission fee only applies to the face value of your voucher.

What happens once I’ve placed an order?

Once we have received your order, you’ll receive an automatic confirmation receipt showing the cash value of your order. We’ll then reserve the items in your order for 14-days to allow you to process your quote and receive your voucher.

Within 24 hours, we will email you your unique Cycle Scheme quote which you can use to apply for your voucher online at cyclescheme.co.uk or through your employer’s intranet system.

Your employer will then be in contact with your chosen Cycle Scheme provider to arrange the necessary deductions from your salary.

Once you have received your voucher, you will need to sign and date it and submit it back to us along with a copy of photo ID so we can dispatch your order. Generally, you’ll receive it as an e-voucher via email, download and print this out to sign it and then scan or photograph it to email as an attachment to us.

As with most sale items we have limited stock but will reserve your order for a maximum of 14 days. We cannot hold the items for longer than 14 days and are unable to accept deposits or payments in lieu.

If it takes longer than the 14 days to receive your voucher, you are able to use it against any other bicycle should your original choice go out of stock. Please contact us if this is the case.

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