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Cyclescheme teams up with Lime Bikes to offer salary sacrifice on ebike rentals
Cycle to Work provider Cyclescheme has partnered with Lime Bikes to offer an annual subscription to the latter's shared electric bikes.Subscribing through Cyclescheme will cut the price of a Lime Bikes subscription by between 28% and 47% for eligible workers, thanks to the tax efficiency of paying via salary sacrifice.The gross cost of an annual Lime Bikes subscription via Cyclescheme is 635 per annum, which works out at 38.10 per month for basic-rate tax payers, 30.69 for those paying higher-rate tax and 28.05 per month for additional rate payers.BNH Extras, the operator of Cyclescheme, says it hopes the new partnership will encourage more commuters and voyagers to consider cycling as part of their journeys. Its research suggests a third of UK employees are thinking of cycling as part of their commute to work, with 44% saying access to an ebike would encourage them to cycle more.According to Peter Dando, senior director of employee benefits & recognition at BHN: The partnership brings Limes e-bikes to Cyclescheme's range of Cycle to Work benefits, enabling employees to pay for an annual subscription through salary sacrifice.Cycle to Work has traditionally meant owning your own bike, but for employees who do not want the cost, storage or maintenance commitment of owning a bike, this partnership offers another route into cycling."500 minutes per month BNH says many riders are including cycling as part of a mixed-mode commute. John Keeble / Getty Images The partnership offers cyclists 500 minutes per month of Lime Bike use over a 12-month period. That may not sound like much, but BNH reckons it will be sufficient for most riders.We've looked at the data here and we're confident 500 minutes a month covers the needs of the majority of our riders, says Dando. That works out at around 25 minutes of riding every weekday, which fits a typical commute.We also know many of our riders use Lime bikes alongside public transport, for example riding to or from the station rather than making the whole journey by bike. If riders need more minutes in a given month, they can always top up with a LimePass or LimePrime in the Lime app. Shared ebike use avoids the need to purchase, store and maintain a bike. Mike Kemp / Getty Images Rides beyond the minute allowance are charged to the payment method associated with the rider's Lime user account at the prevailing rates shown in the Lime app, Dando continues.Lime Bikes operates in a large number of locations across the UK, including London, Oxford and the West Midlands. Cycle to Work users can pick up a Lime ebike at any UK city, although not international locations.Theres no reason cyclists cant add the Lime Bike subscription to a Cycle to Work purchase or add on cycling accessories such as a helmet or jacket, Dando points out, unless this exceeds their employer's salary sacrifice limit.
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