Cycle to Work. 2012 Savings Guide
The table below is a guide for those on standard tax rate
| Bicycle & Equipment Value | £300.00 | £500.00 | £700.00 | £1000.00 |
|---|---|---|---|---|
| 10% Discount | -£30.00 | -£50.00 | -£70.00 | -£100.00 |
| Bicycle & Equipment Value | £270.00 | £450.00 | £630.00 | £900.00 |
| Monthly Salary Sacrifice | £22.50 | £37.50 | £52.50 | £75.00 |
| Total Hire agreement amount | £270.00 | £450.00 | £630.00 | £900.00 |
| Tax and NI saving | £86.40 | £144.00 | £201.60 | £288.00 |
| Total Cost to Employee | £183.60 | £306.00 | £428.40 | £612.00 |
| Employee Saving | £116.40 | £194.00 | £271.60 | £388.00 |
| Employee Saving (%) | 38.8% | 38.8% | 38.8% | 38.8% |
The table below is a guide for those on a higher tax rate
| Bicycle & Equipment Value | £300.00 | £500.00 | £700.00 | £1000.00 |
|---|---|---|---|---|
| 10% Discount | -£30.00 | -£50.00 | -£70.00 | -£100.00 |
| Bicycle & Equipment Value | £270.00 | £450.00 | £630.00 | £900.00 |
| Monthly Salary Sacrifice | £22.50 | £37.50 | £52.50 | £75.00 |
| Total Hire agreement amount | £270.00 | £450.00 | £630.00 | £900.00 |
| Tax and NI saving | £113.40 | £189.00 | £264.60 | £378.00 |
| Total Cost to Employee | £156.60 | £261.00 | £365.40 | £522.00 |
| Employee Saving | £143.40 | £239.00 | £334.60 | £478.00 |
| Employee Saving (%) | 47.8% | 47.8% | 47.8% | 47.8% |