Canyon bikes now available on the cycle to work scheme - with no £1000 limit
You can spend over £1000 and even buy an e-bike if it will get you riding to work
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Canyon has paired up with a cycle to work scheme provider to allow customers to purchase their bikes through the tax saving programme.
The German bike manufacturer has chosen the Green Commute Initiative (GCI) (opens in new tab) as its provider. The scheme is authorised by the Financial Conduct Authority to finance bikes of any value, which does away with the £1000 ceiling found elsewhere.
You don't have to use a cycle to work scheme bike for A to B journeys alone, so you could purchase a speed weapon of an Aeroad or an exploration ready Grail, as long as you plan to use it for your commutes as well.
Canyon's Urban hybrid bike has scored well with us in the past, too, if you're looking for a slightly souped up version of the traditional commuter choice, and e-bikes are permitted on the scheme.
>>> Is the cycle to work scheme still relevant in 2019?
The GCI does not implement any sort of end-of-scheme charge, apart from a £1 charge on handover day, and shoppers can save up to 47 per cent, though as per any such arrangement your savings depend upon your tax band.
The process works like other cycle to work schemes. You'll be hiring the bike, whilst paying for it in monthly instalments via salary sacrifice from your gross pay, which is what you earn before tax. Therefore, you save on the tax and national insurance that you would pay on the bike - this will be 32 per cent, 42 per cent or 47 per cent depending on how much tax you pay.
>>> What is the best bike for commuting?
Most schemes allow you to make your purchase from a bricks and mortar shop. Since Canyon bikes are direct only, that meant you couldn't buy one of their bikes via the scheme, until now (opens in new tab).
If you're the employee of a company, your HR department will need to sign up to the GCI scheme, or they can sign off the voucher and let you go on with the process as an individual, as long as they agree.
Anyone who is a Director of their own company can take part, provided doing so won't take them below the minimum wage. Unfortunately, those who are self employed cannot make use of the scheme.
Commenting on the new partnership, Canyon UK’s Market Manager Nick Allen says: "We are thrilled to be able to offer a cycle to work scheme to our customers through Green Commute Initiative. As a leading supplier in the UK, they were the obvious choice to partner with- offering flexible and accessible schemes for companies and employees."
Rob Howes, Founder and CEO of Green Commute Initiative, added: "I am delighted Canyon has chosen GCI as its cycle-to-work partner. GCI is the first cycle-to-work provider to work with Canyon in the UK and we are delighted that our portfolio of resellers and manufacturers now includes this innovative and well-loved brand.
"As the UK’s leading cycle-to-work provider with no £1,000 limit, GCI was the clear choice for Canyon whose E-bikes retail for over £3,500. Canyon has a service centre in Surrey so our customers can be sure they will receive excellent after-sales care from the Canyon team."
The development comes soon after concern that fewer cyclists are riding outdoors, with two thirds of British Cycling members surveyed saying they're concerned about their safety on the roads.
Whilst tax free bikes won't solve the fear element of the equation, they do help to alleviate one more barrier to active commutes.
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Michelle Arthurs-Brennan is a traditional journalist by trade, having begun her career working for a local newspaper, where highlights included interviewing a very irate Freddie Star (and an even more irate theatre owner), as well as 'the one about the stolen chickens'.
Previous to joining the Cycling Weekly team, Michelle was Editor at Total Women's Cycling. She joined CW as an 'SEO Analyst', but couldn't keep her nose out of journalism and in the spreadsheets, eventually taking on the role of Tech Editor before her latest appointment as Digital Editor.
Michelle is a road racer who also enjoys track riding and the occasional time trial, though dabbles in off-road riding too (either on a mountain bike, or a 'gravel bike'). She is passionate about supporting grassroots women's racing and founded the women's road race team 1904rt.
Michelle is on maternity leave from July 8 2022, until April 2023.
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