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| The following guide is intended to help illustrate the impact on salary of the Cycle to Work Scheme through Salary Sacrifice. |
| Administration costs have been included in the figures, but individual figures may vary subject to personal taxation. |
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BASIC RATE TAXPAYER - 12 MONTH CYCLE TO WORK SCHEME
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Total value of bike & accessories
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SALARY SACRIFICE
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Total cost over 12 months
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Total savings over 12 months
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Gross monthly reduction
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Total tax & NI savings
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Net cost per month
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£1,000.00
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£79.15
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£26.12
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£53.03
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£636.35
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£363.65
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£950.00
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£75.19
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£24.81
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£50.38
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£604.53
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£345.47
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£900.00
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£71.23
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£23.51
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£47.73
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£572.72
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£327.28
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£850.00
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£67.28
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£22.20
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£45.07
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£540.90
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£309.10
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£800.00
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£63.32
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£20.90
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£42.42
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£509.08
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£290.92
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£750.00
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£59.36
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£19.59
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£39.77
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£477.26
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£272.74
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£700.00
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£55.40
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£18.28
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£37.12
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£445.45
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£254.55
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£650.00
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£51.45
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£16.98
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£34.47
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£413.63
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£236.37
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£600.00
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£47.49
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£15.67
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£31.82
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£381.81
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£218.19
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£550.00
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£43.53
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£14.37
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£29.17
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£349.99
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£200.01
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£500.00
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£39.57
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£13.06
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£26.51
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£318.18
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£181.82
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£450.00
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£35.62
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£11.75
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£23.86
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£286.36
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£163.64
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£400.00
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£31.66
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£10.45
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£21.21
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£254.54
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£145.46
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£350.00
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£27.70
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£9.14
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£18.56
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£222.72
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£127.28
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£300.00
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£23.74
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£7.84
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£15.91
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£190.91
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£109.09
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HIGHER RATE TAXPAYER - 12 MONTH CYCLE TO WORK SCHEME
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Total value of bike & accessories
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SALARY SACRIFICE
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Total cost over 12 months
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Total savings over 12 months
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Gross monthly reduction
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Total tax & NI savings
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Net cost per month
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£1,000.00
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£79.15
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£32.45
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£46.70
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£560.37
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£439.63
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£950.00
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£75.19
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£30.83
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£44.36
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£532.35
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£417.65
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£900.00
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£71.23
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£29.21
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£42.03
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£504.33
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£395.67
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£850.00
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£67.28
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£27.58
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£39.69
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£476.31
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£373.69
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£800.00
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£63.32
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£25.96
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£37.36
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£448.30
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£351.70
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£750.00
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£59.36
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£24.34
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£35.02
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£420.28
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£329.72
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£700.00
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£55.40
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£22.72
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£32.69
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£392.26
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£307.74
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£650.00
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£51.45
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£21.09
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£30.35
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£364.24
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£285.76
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£600.00
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£47.49
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£19.47
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£28.02
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£336.22
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£263.78
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£550.00
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£43.53
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£17.85
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£25.68
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£308.20
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£241.80
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£500.00
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£39.57
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£16.23
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£23.35
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£280.19
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£219.81
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£450.00
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£35.62
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£14.60
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£21.01
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£252.17
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£197.83
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£400.00
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£31.66
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£12.98
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£18.68
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£224.15
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£175.85
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£350.00
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£27.70
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£11.36
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£16.34
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£196.13
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£153.87
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£300.00
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