Get Involved

Register your interest in the Cycle To Work scheme contacting us today. We will respond to your query promptly!

Frequently Asked Questions

• What does “salary sacrifice” mean? - Salary sacrifice is a reduction in pay for a pre-determined period of time, in return for a non cash benefit provided by the employer – in this case a bicycle and cycling equipment. The reduction is made from the gross salary, which allows the employee to save on tax and National Insurance contributions.
• Who is entitled to benefit from the Scheme? - Companies of all sizes can implement the scheme. The scheme is then opened to all employees aged 18 or over who pay tax via the PAYE system. Their pay must not drop below the minimum wage once the loan repayment has been deducted.
• Who owns the bike? - The employer owns the bicycle and cycling equipment until the end of the hire period. At the end of the period the employer may offer employees the option to purchase the bicycle, at fair market value (usually around 5% of the hire agreement amount).
• Who is responsible if the bike is lost or stolen? - The employee is responsible for the bicycle for the duration of the loan and is therefore advised to insure the bicycle.
• What if an employee leaves early or is made redundant? - The employee will have to pay the outstanding amount.
• Can any bicycle be bought through the scheme? - Yes. If the value of bicycle and cycling equipment exceeds £1000 , then the employee can pay the excess.
• Can employees purchase more than one bike? - Yes, if they need more than one to travel to work: they could for example buy one for the journey from their home to a train station, then another one for the journey from a train station to their place of work.
• How much will the scheme cost to implement? - The scheme does not cost anything to implement.

Slane Cycles

Cycle To Work Scheme Belfast

171A  Andersonstown Road

Belfast

Co.Antrim

Northern Ireland

BT11 9EA

Phone: 029890 600040