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eBike Insurance
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Get Out & Explore your Countryside - Float UP Those Hills With a Smile on Your Face

Where We Are

Bike Electric's showroom is in West Norfolk in the centre of Swaffham with ample car parking available. We are just 15 miles from Kings Lynn, some 25 miles from the North Norfolk Coast and 20 miles from Thetford.

Take a Test Ride

For a test ride Call us on 0800 773 4921

Open Hours

Check your Employer has a Cycle to Work Scheme and save up to 42% on your purchase and spread the cost over the year. We work with several of the Cycle to work Scheme providers. Including: www.GreenCommuteInitiative.uk, www.cyclescheme.co.uk as used by the NHS, www.bike2workscheme.co.uk by Corporate Companies, www.cycle2work.info Scheme Vouchers from Halfords.

The Green Commute Initiative Cycle to Work Scheme we offer clients has no limit. This means higher quality eBikes can be purchased

The
Cycle to Work Scheme

cycle to work scheme cycling in the city

The Scheme Benefits to You and Your Employer
This is how it works...

The Steps are Straightforward

You ask your Company to set up our proposed “Cycle to Work” scheme by completing our form to purchase the eBike that will set up a loan agreement with you as the employee which is deducted from your salary.

You commit to a small monthly deduction in gross salary fully mitigating the cost the employer over typically 12 to 18 months.

Step 1: You select the Electric Bike you wish to purchase.

Step 2: Your employer applies to join the Scheme by completing our Form.

Step 3: Their eligibility and maximum amount is confirmed.

Step 4: You request a Quotation for the chosen eBike which is then sent to the Scheme provider together with the information required for the salary sacrifice scheme.

Step 5: The documents are sent to your Employer for you both to sign the Hire and salary sacrifice agreement with your employer.

Step 6: Your Employer Orders the eBike and the Scheme provider Invoices your employer. When paid the scheme provider supplies you with a Payment Voucher and on presentation with photo ID we release the eBike to you.

Step 7: Your Employer takes the agreed monthly sum from your salary.

Step 8: In 11 months the Scheme provider manages the end of scheme process to transfer ownership to you by you making a Fair Market Value payment or continuing the agreement.

At this time you have the option of paying the Benefit in Kind (BIK) tax on 25% on the original value. Typically on a £1000 eBike between £80.00 and £105.00. Or otherwise seek an extended loan with your employer of up to 5 years which reduces the tax amount to just 2%. Your employer cannot cancel this Agreement even if you have left their employment and you are the appointed as their agent to dispose of the eBike at the end of the agreement. There are no charges by the Scheme Provider for making this arrangement.

Buying your eBike through the scheme

Below are typical examples of the Financial Savings for both the Employer and the Employee according to the eBike Cost. NOTE: All fiscal examples subject to revised Quotation as these are only typical examples at time of publication.

Employer Financial Example
Total Price of eBike and Equipment eBike at £1499.00 eBike at £1949.00 GoCycle G3 at £3299.00
Cash Neutral Finance Cost £105.00 £136.00 £231.00
Total Cost £1604.00 £2085.00 £3530.00
Employee Salary Sacrifice £1499.00 £1949.00 £3299.00
Position before Tax Savings -£105.00 -£136.00 -£231.00
Employer NI Saving £207.00 £269.00 £455.00
Employer AIA Tax Saving £250.00 £325.00 £550.00
Total Employer Gain after Tax Savings £352.00 £457.00 £774.00
Employee Financial Example >> Higher Rate Taxpayer
Total Price of eBike and Equipment £1499.00 £1949.00 £3299.00
Gross Monthly Salary Sacrifice £125.00 £162.00 £275.00
Net Monthly Salary Sacrifice (x12) £72.00 £94.00 £159.00
HR Taxpayer Total Price of Bike £869.00 £1130.00 £1913.00
Higher Rate Taxpayer Savings £630.00 £819.00 £1386.00
Employee Financial Example >> Basic Rate Taxpayer
Total Price of eBike and Equipment £1499.00 £1949.00 £3299.00
Gross Monthly Salary Sacrifice £125.00 £162.00 £275.00
Net Monthly Salary Sacrifice (x12) £85.00 £110.00 £187.00
BR Taxpayer Total Price of Bike £1019.00 £1325.00 £2243.00
Basic Rate Taxpayer Savings £480.00 £624.00 £1056.00