Cycle To Work Scheme
We Accept Cycle to Work Vouchers
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At Mapdec, you can use your cycle to work voucher for a custom built bike & bike accessories.
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Have you spotted your perfect frame? You can use your cycle to work voucher immediately or secure your frame on a credit card before your employer supplies your voucher and receive your money back. In order to get all the tax benefits of using your Cycle to Work voucher on discounted and price-matched products we will need to upcharge by a typical 10% to cover the commission.
How to Use your Voucher with Mapdec
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1) Get your quote from Mapdec for your dream bike. It can include power meters, shoes, pedals, lights, and your bike.
2) Tell us if you'll be using a cycle to work voucher so we can balance the best prices for your build and the commission for the cycle to work scheme.
3) Give your quote to your employer and name us as your preferred dealer. You can see all the schemes we work with below. If yours isn't there, please ask. We don't work with the Halfords scheme.
4) You may want to secure your order soon to guarantee stock and prices, as sometimes it can take many weeks to ensure your voucher. We can take a 50% deposit that will be refunded once your voucher arrives.
5) Alternatively, we can take your coucher in full and begin working on your build. Typically, a custom build project takes 3 weeks. If there are stock issues, we will inform you before ordering.
Vouchers We Accept
Why Use Your Voucher with Mapdec
Enjoy the process of choosing every component so we can create the right bike for you.
All the care and attention you expect from Mapdec's experienced mechanics.
Your own custom package adds up to the perfect bike with no parts to change or replace.
Who Benefits
It’s a win-win for employees – you get your new bike cheaper without saving up first.
It’s a win-win for employers – staff who cycle are fitter, healthier, more productive and have fewer days off sick.
It’s a win-win for us all – more people riding bikes means less congestion, less traffic pollution and a healthier population.
How does it work?
Cycle to work schemes operate on the principles of a salary sacrifice program. Cycle to Work schemes enable employees to purchase bikes through their workplace. Essentially, you pay for the bike and gear out of your gross salary (before tax), effectively reducing the cost of the bike due to tax savings. The scheme is part of the UK government’s efforts to promote healthier lifestyles and greener commuting methods.
Here's a simplified breakdown of how it works:
Employer Partnership: Your employer signs up with a cycle to work scheme. If your employer hasn’t already signed up to a scheme it is really easy to do and there is no cost to your employer. If they haven’t already signed up share some advice with them on the benefits of offering a cycle to work scheme and where to sign-up.
Choose Your Bike: Once your employer is signed up, you can select a bike and accessories. There are usually limits on how much you can spend though recent adjustments allow for higher limits with some providers making buying even an e-bike possible. When you contact us let us know you are paying with a cycle to work scheme and we will help you make the most of your voucher.
Payment Process: Instead of paying the total amount upfront, you agree to forgo a part of your salary over a set period, usually 12 months, to cover the cost. The net deduction is from your gross salary, which means you save on income tax and national insurance.
Ownership Transfer: At the end of the agreement period, there are usually options to purchase the bike at its fair market value, return it, or continue leasing it at no extra cost until its value depreciates to zero.
FAQ
While the cycle-to-work scheme is designed to encourage cycling as a mode of commuting, there is no strict requirement that you must ride your bike to work every day. The intent is to promote healthier and more sustainable commuting options. However, it is expected that you use the bike for some portion of your commute or other work-related travel.
No, the scheme does not specify that the bike must be a specific type suited exclusively for commuting. You can choose a bicycle that meets your personal commuter needs, be it a road bike, hybrid bike, mountain bike or an e-bike. The key aspect is that it should aid in your journey to and from work.
Originally cycle-to-work schemes had a price limit of up to £1,000. However, since changes in the scheme were introduced, the limit was lifted, allowing for more expensive bikes, including e-bikes, to be included.
The specific limit, if any, can be set by your employer, and larger purchases might require you to enter into a more complex hire agreement, which could involve approval by the Financial Conduct Authority (FCA). Always confirm with your employer or the scheme provider to know the specific terms and price limits applicable to your situation before setting your heart on a specific bike.
