Cycle To Work Scheme Calculator

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Welcome to our Cycle to Work Scheme calculator where you can find out how much a bike would cost you per month on the cycle to work scheme. The calculations below are an estimate and depend on the particular scheme that your employer is signed up to.

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These tables illustrate the savings that can be made when your employer operates a Cycle to Work Scheme (or Bike to Work Scheme) in partnership with Edinburgh Bicycle. The Cycle to Work Scheme Calculator below uses figures based on a 12-month hire period.

Table 1. How the Cycle to Work scheme would be calculated for a basic rate taxpayer on a salary up to £46,3511.

Bike Value Monthly Reduction in Net Pay2 Net Cost of Leasing the Bike3
£200 £11.33 £136.00
£300 £17.00 £204.00
£400 £22.67 £272.00
£500 £28.33 £340.00
£600 £34.00 £408.00
£700 £39.67 £476.00
£800 £45.33 £544.00
£900 £51.00 £612.00
£1,000 £56.67 £680.00

The figures in this table assume a salary up to £46,351, 20% tax & 12% NIC. Costs are for tax year 2018/19 and a 12 month repayment period has been set.


Table 2. How the Cycle to Work scheme would be calculated for higher rate taxpayer on a salary over £46,3511.

Bike Value Monthly Reduction in Net Pay2 Net Cost of Leasing the Bike3
£200 £9.67 £116.00
£300 £14.50 £174.00
£400 £19.33 £232.00
£500 £24.17 £290.00
£600 £29.00 £348.00
£700 £33.83 £406.00
£800 £38.67 £464.00
£900 £43.50 £522.00
£1,000 £48.33 £580.00

The figures in this table assume a salary between £46,351 and £100,000, 40% tax & 2% NIC. Costs are for tax year 2018/19 and a 12 month repayment period has been set.

1 Tax rates differ in Scotland. Higher rate income starts at £43,431 and the rate is 41%. An intermediate rate (for salaries £24,001 – £43,400) is 21% which will impact the calculations.
Figures rounded to nearest 1 Penny.
3 Figures rounded to nearest £1.


The cycle to work calculator tables are accurate as a guide to the NI and tax that can be saved on the scheme. But please note that if your employer decides to sell the bicycle at the end of the hire period for a fair market value, HMRC guidelines have been published that your employer may follow. For more information please contact your employer as they do have options regarding the Fair Market Value payment at the end of the scheme. For example, as detailed elsewhere in these pages, they may just allow you to continue to use the bicycle free of charge without transferring the ownership over to you.

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