What Employers need to know?

Co-operative Flexible Benefits provide a fully administered scheme allowing you to manage your scheme in seven easy steps. And what’s more, scheme delivery is cost free for employers.

Co-operative Flexible Benefits Cycle to Work benefit is offered in conjunction with Halfords which meets all relevant tax guidance (including recent HMRC guidance) and legislative criteria – important to know when introducing a scheme with tax implications.

Your local Account Manager will also provide ongoing scheme support, free marketing materials and all the scheme documentation that’s required. We can arrange on-site roadshows to help increase employee awareness.

Savings explained*
Retail value of bike and accessories £100 £500 £1000
Gross monthly reduction** £8.33 £41.67 £83.33
Tax Savings** £1.67 £8.33 £16.67
National Insurance Savings** £1.00 £5.00 £10.00
Net cost per month £5.67 £28.33 £56.67
Total cost over 12 Months £68 £340.00 £680.00
Total savings made £32.00 £160.00 £320.00

* Price includes all costs in running the scheme over a 12-month period. Costs included can be used as a guide only, and may vary subject to personal taxation. 
**Assumes 20% Tax Rate and assumes 11% Employee NIC Rate.

For more information contact our helpdesk on 0800 458 7929