A new cycle-to-work scheme has launched from Raleigh, potentially saving employees up to 42% on retail prices of electric bikes.

The scheme enables employees to pay for a bike from their pre-tax salary, saving on tax while spreading the cost interest-free over 12 months

Working in a similar way to other salary sacrifice schemes, the Electric Bike Access scheme enables employees to pay for a bike from their pre-tax salary, saving on tax and allowing them to spread the cost interest-free over 12 months. Bikes on offer include brands such as Raleigh, Haibike and Lapierre.

It can also benefit employers by saving 13.8% on National Insurance on the salary sacrificed and the scheme can be managed via a bespoke employer portal.

“The electric bike can be a true alternative to cars, particularly for shorter journeys. Commuters can combine the savings on fuel and parking with the enormous benefits to health and wellbeing. As well as the positive environmental impact, the bicycle could revolutionise the way we travel and dramatically reduce congestion in our towns and cities.” said Pippa Wibberley, marketing director at Raleigh UK.