Bikes for work
Save money on the cost of a new bike through the bike to work scheme.
Whether you want to get fit, save money off the cost of commuting or just do your bit for the environment, you can get a bike tax-free*, you can also include accessories and safety equipment.
*important note: at the end of the lease period, Aviva may choose to gift this bike to you in which case you will be required to meet any tax liability based on the fair market value of the bike in line with the HMRC guidelines. If this is the case, the value will be included on your P11D and the HMRC may adjust your tax code to meet this payment. Please ensure that you read the Terms and Conditions for the detail.
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Roll over the photographs to see some examples of the difference this could make |
At a glance
What is it?
If you cycle to work or are thinking about it, this benefit means that you could save on a new bike from Cyclescheme or Evans Cycles. You can choose a bike of up to £1,000 and they have a huge range to choose from - many of which you can view on www.evanscycles.com/stores or www.cyclescheme.co.uk/f53fb3 – or pop into your local store to have a look.
How it works
- Take a look at the bikes on offer and decide how much you want to spend on your new bike and which supplier you want to use. As well as a bike you can also select accessories such as bike helmet and lights.
- Select this amount when you enrol. Bear in mind you can add cash to make up any small balance. You cannot have cash back on any value of the voucher not spent.
- You will have to sign a declaration that you intend to use the bike to travel to and from work.
- You will also need to print off, complete and return a hire agreement. This can be downloaded below or from the my Aviva flex system when you select your bike.
- You will need to return the correctly completed Hire Agreement by the end of the month in which you make the selection, otherwise, you will be required to start the process again.
- You can either post it to the address on the form or scan it and e-mail the form to flexsimple.queries@grg.com
- This benefit can be selected at any time during the scheme year.
- The bike is leased from Aviva through a 36 month lease hire arrangement. The bike costs are paid over 12 months.
- Download your Bikes for work agreement (PDF 43KB).
- If you work for RAC, download a copy of your Bikes for work agreement (PDF 124KB).
- For general questions about this benefit, you can call the my Aviva flex helpline on 0800 917 2310.
Saves on Tax?
Saves on NI?
Key points to consider
- Do you need a new bike and are you thinking about cycling to work?
- Would cycling to work help you save money on your commuting costs?
- You are allowed one bicycle only and one current agreement. So if you have an existing agreement, this will continue and you will need to wait until it finishes before selecting a new bike under my Aviva flex.
What happens next
Providing all your documentation is received by the end of the month in which you make your selection, during the following month you will receive vouchers for the amount selected. The vouchers come in £50 denominations