Cycle to Work Scheme
Cycle to Work Scheme
The Cycle to Work Scheme (C2W) was introduced in the Finance Act 1999 as a way of promoting healthier journeys to work and to reduce environment pollution.
How it works?
The scheme allows employers to loan bikes and equipment to employees (up to £1000) as a tax-free benefit. The loan amount is deducted from your gross pay (salary sacrifice) over the next year, after which the employee pays a nominal fee (e.g. £1) to take ownership of the bike.
As the cost is deducted through salary sacrifice, basic rate tax payers will save 32% (20% tax and 12% National Insurance) while higher rate tax payers will make savings of 42% (40% tax and 2% National Insurance). Employers will typically save up to 13.8% of the salary sacrifice amount.
Who can take part?
Employers of all sizes across public, private and voluntary sectors can implement the scheme. It must be open to all employees however, it is not available for those under 18 or on the National Minimum Wage.
Benefits of cycling?
Apart from the cost savings there are a whole host of benefits to be expected from implementing C2W:
- Improved physical and mental well being of employees
- Happier employees can lead to improved productivity and attendance
- A reduced carbon footprint benefits the planet
- Quicker commuting times
For any queries about the payroll, please feel free to get in contact and we will be more than happy to help. For any bike queries, please feel free to get in contact with the guys below:
Is social media suitable for any type of business?
There are countless things you can talk about when it comes to social media for business, but one of the things I get asked the most: is social media suitable for my business? The simple answer: Yes, social media is not only suitable for any business but also a very good business investment. Here are top three reasons why:
- Social Media Marketing Improves your Brand
Did you know that 71% of consumers who have had a good social media service experience with a brand are likely to recommend it to others? In building your brand, it is essential that your company has as much exposure as possible. The more visibility you have, the better the chances are that your brand will grow. Social media marketing makes building a brand expedient as the user and your brand meet on a familiar platform. While with standard marketing techniques the business must seek out customers, with Social Media marketing algorithms, your targeted audience receives the content on their stream.
- Social Media rates have a higher ROI then random click-ads
When considering the practical methodology of Social Media marketing over that of the methodology of click-ads, there is one primary factor to consider. In click-ads, the marketing campaign is driven by the hopes that someone will see the ad/banner and that the content on that banner will be compelling enough to click on to find more information. Where this may result in a few conversions, it is ineffective. Why? Because either the person perceives the banner as being just what it is (a marketing tool) and avoids it or the person is already engaged in a site offering the content they are seeking. On the other hand, Social Media marketing ads are more humanised as they interact with the consumer. According to Forbes, social media has “a 100% higher lead-to-close rate than outbound marketing and a higher number of social media followers tends to improve the trust and credibility of your brand.”
- Social media marketing gives the business the visage of modernism
Think about it. When was the last time that you looked into a major business and did not see at least one avenue of social media marketing associated with it? It is not so much a question of whether social media should be used for marketing but rather, how should you be using the social media for your campaigns. As a business, using Social Media Marketing ensures that you have an up-to-date modern appeal. Customers can quickly identify your brand as well as help you build it.
About Media Bloom
Media Bloom is an Edinburgh based digital marketing company founded in 2014. They help clients grow their online visibility and sales through web design, social media strategy and management, social media training and email marketing. Lisa can be contacted at email@example.com or at www.mediabloom.co.uk.
Lisa about the collaboration with Bolland and Burke:
‘’I am very grateful to Alan and the entire team of BBCA. They helped me with the best advice possible since the very beginning of my business and I highly recommend them for any accountancy services.’’