CAT's Cycle to Work scheme

Meet Lucy Stone, proud non-owner of a new bicycle to ride to work. An Information Officer at the UK's Centre for Alternative Technology (CAT), Lucy is the first employee to test out a scheme launched just a week ago. Called 'Cycle to Work' employees chose a bike, which CAT then buys, and rents back to them as a payroll deduction, over 1 to 3 years. The deductions come from Lucy's before tax gross salary, so she saves money. (A process also known as salary 'sacrifice' or 'packaging'). When the 3 years are up, CAT will sell the bike at less than the original purchase price. Lucy gets low cost transport and CAT get a healthy, fit employee (CAT note that "every year British workers take 166 million sick days, costing employers over £11 billion") and our planet gets less greenhouse gases. Smiles all round. It would appear that employees can also access 'cyclists' safety equipment' as a tax-free benefit. The tax exemption program falls under the UK Government's Green Transport Plan and their Department of Transport have all the nitty gritty. ::CAT's Cycle to Work

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