Green Commute Initiative and Cycle Scheme
Sprockets Cycles is a premium destination to redeem your Cycle to Work voucher, offering an excellent selection of bicycles perfect for commuters.
With various scheme options available, cyclists can choose from a wide range of bikes, bike components, and even e-bikes. Get in touch with our knowledgeable team to learn more about these excellent Cycle to Work schemes in Scotland.
Green Commute Initiative
Green Commute Initiative is the industry-leading and award-winning cycle-to-work scheme with no limits.
Sprockets Cycles offers customers the opportunity to purchase high-quality bikes through the Green Commute Initiative (GCI), a UK-wide program that allows you to saddle up for less.
As one of the leading Scottish bike stores participating in this fantastic scheme, Sprockets Cycles can help you save on a full bike package, which includes a bike or e-bike, a helmet, and any other accessories you may need. With the GCI, there is no £1,000 limit and no exit fees, unlike other scheme options.
How the Green Commute Initiative works in Scotland
To apply for the GCI in Scotland, you must work for an employer who has purchased a voucher that you can use to select a bike from Sprockets Cycles.
Initially, you will "hire" the bike or components, making payments into the initiative through a portion of your gross salary. In addition to paying in smaller increments, you can save anywhere from 32% to 47% overall depending on your tax rate.
Unlike older Cycle to Work schemes with hefty exit fees once the bike is paid off, the GCI extends the loan of the bike for five years and nine months after you finish making payments. After six years, ownership will be transferred to you for a processing fee of £1, as per a separate agreement.
This allows eligible individuals to save a significant amount of money on a bike and spread the cost over a period of 12 to 60 months. It also benefits employers, as they save 13.8% on employer's National Insurance contributions.
Green Commute Initiative Calculator
Discover how much you can save with the Green Commute Initiative using the online calculator. Determine the exact savings you will enjoy on the Cycle to Work scheme based on your salary and desired repayment period.
Sprockets Cycles also offers vouchers for the Cycle Scheme, an employee benefit that allows you to save 25% to 39% on a new bike and cycling accessories for commuting and leisure.
This scheme also allows you to request a Cycle to Work package valued over £1,000, giving you the freedom to save on e-bikes, cargo bikes, and specialized adapted cycles.
How the Cycle Scheme works in Scotland
With the Cycle Scheme, you pay nothing upfront, and the payments are deducted from your salary in a tax-efficient manner by your employer.
Once you have chosen a bike and rented it for an agreed length of time, you can then purchase it for a fraction of its original value, as the price is reduced through your rental payments. It's like having a year-round sale with interest-free credit available.
Save with the Cycle Scheme
By purchasing a bike or accessories directly from your gross salary, you lower your income tax and National Insurance contributions, as they are calculated based on the reduced amount of salary.
Cycle to Work with an e-bike
While many similar schemes have a £1,000 limitation, the Green Commute Initiative and the Cycle Scheme do not, making them an excellent way to obtain an e-bike without a large upfront cost.
Cycle to Work with Sprockets
If you have a valid Cycle to Work scheme voucher from your employer, simply contact the Sprockets Team. Our experts will assist you in finding the right bike or components and ensure that your voucher amount is used effectively based on your commuting needs.
Sprockets Cycles aims to provide you with premium bikes through the Green Commute Initiative and Cycle Scheme, although we are unable to accept all variations of Cycle to Work scheme vouchers.
Once you have decided on your bike and accessory package we will give you a free personalised quote for you to take back to your HR department to start the ball rolling.
After around a fortnight you will be issued a "letter of collection" (LOC) that you bring into the shop to redeem against your new bike. Please note that Sprockets Cycles reserve the right to exclude chosen products from purchase with Cycle to Work vouchers.