Chancellor George Osborne confirmed yesterday that cycle-to-work salary sacrifice schemes are set to continue. Despite the rumoured reduction of salary sacrifice schemes, the cycle-to-work scheme has been recognised for its health benefits and so will continue to provide tax and National Insurance savings via salary sacrifice.
Yesterday’s budget demonstrated the government’s intention to support pensions, childcare and health-related benefits, such as Workplace Bikes.
Furthermore, the London School of Hygiene & Tropical Medicine have studied more than 150,000 British adults, aged 40-69, identifying that the average male cyclist weighed 5kg (11 lbs) lighter than their equivalent motorist. This demonstrates the health benefits for employees who partake in a cycle-to-work scheme.
Workplace Bikes is not only a healthy option for your employees, by providing National Insurance savings for employers; it makes a healthy balance sheet too!