HB Accountants

February

On your bike!

Tax Advantages of Ride 2 Work Schemes

The idea is that it reduces CO2 emissions whilst getting or keeping yourself fit AND it also saves you money on Tax and NI.

How? Well, your employer signs up with a Ride 2 Work Scheme provider and basically pays for the Bike, Helmet, Lights and Reflective Clothing for you.

You pay this back on a monthly basis over a period of 12 months and as your payments are taken from your salary prior to deductions this results in you having to pay less in Tax and NI as there are less earnings to apply the deductions to.

Contact our payroll department on 01992 444466 (or directors@hbaccountants.co.uk) for a free initial consultation.
 

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