Your Boss Can Now Pay For Your Lime Bike To Work 

It’s the Uber of the bike world. Hundreds of Brits now depend on a Lime inexperienced ebike to journey across the metropolis. And from right now, it may additionally turn into an in-demand worker profit.

Lime has joined the UK’s authorities backed cycle-to-work scheme with specialist supplier CycleSaver. By means of the partnership, workers in London, Nottingham, and Milton Keynes will have the ability to apply for tax financial savings on Lime’s month-to-month minute bundles through wage sacrifice.

In accordance with Lime, the scheme means a 30-minute experience may price simply £1.30, in comparison with round £3 with out the deal, and supply a sustainable different to journey into work as an alternative of the standard practice, bus, or automotive.

How does the Lime cycle to work scheme work?

The Cycle to Work scheme is a government-subsidised worker perk bundle. Staff choose the bike they need to experience to work, and the employer buys it.

Because it’s a enterprise expense, the employer is not going to pay VAT on the bike. The employee will then ‘purchase’ the cycle again from their employer by sacrificing a portion of their pre-tax earnings.

As a result of Lime rents bikes, as an alternative of promoting them, the CycleSaver and Lime partnership gives workers members the power to purchase a motorcycle subscription, slightly than a bicycle of their very own.

Lime at present sells two bundles for customers. Cyclists can both buy 500-minutes or 1,000-minutes value of using time per 30 days, at a value of round £40 and £80 respectively.

Through the scheme, UK workers will have the ability to save between 28% and 47% on month-to-month minute bundles with Lime (relying on their tax bracket and reimbursement plan).

Lime or Tube Line?

Lime’s reputation has steadily been rising within the capital, overtaking Santander’s ‘Boris bikes’ and rival ebikes akin to HumanForest.

It has rapidly carved out a distinct segment amongst workplace staff, who apparently want utilizing bike lanes to stuffy tube carriages. In Could 2024, Lime reported that 52% of journeys in London occurred throughout peak commute hours.

The corporate is now hoping to broaden its attraction to this viewers by partnering with CycleSaver. On high of this, it’s rolling out two new bike fashions, known as the LimeGlider, that function decrease seats and a smaller body to higher cater for girls workers.

Why is that this good for workers?

Worker help programmes have turn into a enterprise necessity in right now’s poor financial local weather. With actual wages falling and pay development stalling, corporations are in search of out methods to supply perks that may present tangible monetary advantages for employees.

Savvy organisations are additionally leaning on these advantages packages to incentivise distant and hybrid crew members to return to the workplace. In a current survey, 83% of workers stated they might journey into the workplace extra if their firm funded their commute.

Cycle to Work may very well be a wise choice for employers. In 2023, a report uncovered that UK workers may save £1,199 per 12 months by making use of to the programme. That quantity has possible elevated as a result of inflation pushing up the price of the day by day commute.

Lime’s Cycle to Work subscription gives substantial price financial savings for commuters. Plus, as a result of workers are capable of buy a month-to-month rental, slightly than shopping for the bike over a number of months, they will profit from a extra versatile reimbursement choice.

Hal Stevenson, Director of Coverage for Lime UKI, stated: “Tens of hundreds of persons are already utilizing Lime to commute each morning, so we hope corporations and workers which can be signed as much as the UK’s cycle to work scheme benefit from this.

“Providing a scheme that has reductions for each rental ebikes in addition to private bikes is a good way for companies to encourage extra sustainable and lively journey by workers.”