YT bikes now available on Cycle to Work scheme with no price limit

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<img src="https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-01-7640295.jpg?quality=90&resize=620,413" srcset="https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-01-7640295.jpg?quality=90&amp;resize=720,479 720w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-01-7640295.jpg?quality=90&amp;resize=576,383 576w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-01-7640295.jpg?quality=90&amp;resize=360,239 360w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-01-7640295.jpg?quality=90&amp;resize=180,119 180w, " sizes="(max-width: 620px) 100vw, 620px" width="620" height="413" class="wp-image-392889 alignnone size-landscape_thumbnail" alt="YT’s Jeffsy 29 CF" title="YT GCI 01" /> <p>German direct-sales mountain bike brand YT Industries has partnered with popular <a href="https://www.bikeradar.com/advice/buyers-guides/cycle-to-work-scheme-everything-you-need-to-know/">UK Cycle to Work scheme</a> providers, Green Commute Incentive (GCI).</p>
<p>GCI’s involvement means employees will be able to benefit from reduced prices (up to 47 percent) on any bike from the YT range — the same applies to any brand or retailer partnered with GCI — with no upper limit on retail value.</p>
<p>GCI is the only Cycle to Work scheme provider authorised by the Financial Conduct Authority (FCA) to issue bikes that retail at over £1,000.</p>
<ul>
<li><a href="https://www.bikeradar.com/advice/buyers-guides/cycle-to-work-scheme-everything-you-need-to-know/">Cycle to Work scheme: everything you need to know</a></li>
<li><a href="https://www.bikeradar.com/news/canyon-cycle-to-work/" target="_blank" rel="noopener noreferrer">How to save 47% on your next bike from Canyon</a></li>
</ul>
<p>The government’s Cycle to Work incentive, now in place for 20 years, aims to encourage new cyclists and greater use of bicycles for commuting to work by aiding employees to obtain new bikes via tax and National Insurance reductions on the employee’s salary.</p>
<p>Employers can hire bikes to employees at an arranged rate of salary sacrifice (meaning an amount deducted from the employee’s pre-tax salary), usually with a separately-agreed deal to purchase the bike at the end of the hire period.</p>
<div class="img-container img-container–landscape-thumbnail"><img src="https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-03-b5542e1.jpg?quality=90&amp;lb=620,413&amp;background=white" srcset="https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-03-b5542e1.jpg?quality=90&amp;lb=728,484&amp;background=white 728w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-03-b5542e1.jpg?quality=90&amp;lb=556,370&amp;background=white 556w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-03-b5542e1.jpg?quality=90&amp;lb=355,236&amp;background=white 355w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-03-b5542e1.jpg?quality=90&amp;lb=340,226&amp;background=white 340w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-03-b5542e1.jpg?quality=90&amp;lb=320,213&amp;background=white 320w, " sizes="(min-width: 992px) 940px, (min-width: 768px) 728px, (min-width: 576px) 556px, calc(100vw – 20px)" width="620" height="413" class="wp-image-392891 alignnone size-landscape_thumbnail img-container__image" alt="YT’s Jeffsy 29 CF" title="YT GCI" data-source-name="Matt Wragg / Immediate Media"></div>
<div class="caption-hold"><figcaption class="wp-caption-text">Matt Wragg / Immediate Media</figcaption></div>
<p>While employers can set up their own schemes in this way and are able to provide bikes at a value above £1,000 if they have FCA approval, most use providers such as GCI to implement the scheme.</p>
<p>The GCI system works roughly like this: You choose your next dream commuter bike (and weekend fun machine – there’s no reason you couldn’t pick <a href="https://www.bikeradar.com/reviews/bikes/mountain-bikes/full-suspension-mountain-bikes/yt-decoy-29-cf-pro-race-e-mtb-first-ride-review/">YT’s Decoy e-MTB</a>) and get a quote from GCI, with your employer purchasing from them a voucher equal to the cost of the bike. You then agree a salary sacrifice with your employer to repay the cost of the voucher (well, the bike really).</p>
<div class="img-container img-container–landscape-thumbnail"><img src="https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-02-2a6f110.jpg?quality=90&amp;lb=620,413&amp;background=white" srcset="https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-02-2a6f110.jpg?quality=90&amp;lb=728,484&amp;background=white 728w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-02-2a6f110.jpg?quality=90&amp;lb=556,370&amp;background=white 556w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-02-2a6f110.jpg?quality=90&amp;lb=355,236&amp;background=white 355w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-02-2a6f110.jpg?quality=90&amp;lb=340,226&amp;background=white 340w, https://images.immediate.co.uk/production/volatile/sites/21/2019/08/YT-GCI-02-2a6f110.jpg?quality=90&amp;lb=320,213&amp;background=white 320w, " sizes="(min-width: 992px) 940px, (min-width: 768px) 728px, (min-width: 576px) 556px, calc(100vw – 20px)" width="620" height="413" class="wp-image-392890 alignnone size-landscape_thumbnail img-container__image" alt="YT’s Jeffsy 29 CF" title="YT GCI" data-source-name="Matt Wragg / Immediate Media"></div>
<div class="caption-hold">
<figcaption class="wp-caption-text"><span class="caption-copy"><i class="icon-arrow icon-camera-circle"></i> Bike’s over £1,000 from YT are available via GCI.</span></figcaption><span class="im-image-caption"> <i>Matt Wragg / Immediate Media</i></span>
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<p>After the first 12 months, GCI offers you a five-year free-of-charge loan for the bike, at the end of which you can purchase the bike from them (not the employer) for £1.</p>
<p>As the bike has “no market value” after this period, there are no tax complications. Of course, it does mean you won’t officially own the bike until it’s had five years’ worth of commuting up and down the hill at BikePark Wales.</p>
<p>Perhaps it sounds too good to be true, but GCI receives <a href="https://uk.trustpilot.com/review/greencommuteinitiative.uk">excellent reviews on Trustpilot</a> and literally hundreds of retailers are already registered with them. <a href="https://www.bikeradar.com/news/canyon-cycle-to-work/">Canyon Bikes</a> also recently began offering GCI’s services on any bike it sells through its online-sales platform.</p>
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