Employee FAQs

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Gogeta Bike

What is the Gogeta Bike scheme?

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Gogeta Bike is a cycle to work scheme. Cycle to work was introduced by the UK Government to get more people cycling. It lets you pay for bikes and cycling clothing and accessories out of your gross salary, before tax and national insurance contributions, saving you money. And because you pay for the cost of your bike by salary sacrificing the cost out of your monthly salary, it also lets you spread the cost over the salary sacrifice period

How much can I save?

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Cycle to work savings are typically between 24%-44% on standard retail prices, depending on your tax band. However, because Gogeta Bike has the lowest commission for retailers, they never pass on surcharges to you when using our scheme and you’ll get access to other deals (like sale bikes).

This means the savings you make are usually even greater, sometimes over 50%. To see your personalised savings, based on your salary and your bike cost, please check out our savings calculator.

How do I sign up?

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Any PAYE employee can use Gogeta Bike as long as your employer signs up. It’s simple, quick and offering Gogeta Bike as a benefit to staff doesn’t cost them a penny. Ask your employer to sign up on our website or download a guide to Gogeta Bike to send to them here.

What are the costs to the employee to get a voucher?

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We charge a platform fee to use Gogeta, which is 6% of the voucher amount. Depending on your employer's plan, this fee is paid either by you or your employer.

If you pay it, the fee is added to your salary sacrifice amount, so you save tax on it too. Your actual net cost is only 3.2-4.3% of the voucher amount (depending on your tax band).

Unlike legacy cycle-to-work schemes where retailers charge up to 15% in surcharges, Gogeta vouchers never include retailer surcharges. This makes Gogeta the most generous cycle-to-work scheme for employees.

Can I use any retailer?

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You can use Gogeta Bike at any participating retailer (check our retailer list here). If your preferred retailer isn’t signed up, get in touch and we’ll get them on board straight away.

We are the only cycle to work scheme endorsed by the Association of Cycle Traders, due to our low commissions and fair and transparent pricing, and we are always growing our retail base.

Can I add personal funds to a voucher?

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We are afraid not as the Government guidance states that adding funds is not allowable. So please get an accurate quote before you apply.

What can I buy with my Gogeta Bike voucher?

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You can get any adult bike, including electric bikes, plus a wide range of cycling equipment and clothing. You can select cycling equipment with a bike or if you already have a bike, you can choose to get equipment only, with all the same savings. You cannot get GPS trackers, scooters, bike racks for cars, cameras, turbo trainers or rollers, power meters or children's bikes. For a definitive list of what accessories are eligible, please read the HMRC guidance here.

Is there a limit to how much I can apply for a voucher for?

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Your employer will set the maximum scheme voucher amounts for Gogeta Bike applications. You’ll be notified of these when your employer signs up and when you apply.

How long is the salary sacrifice period?

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Your employer will set the salary sacrifice period. It's usually 12 months, but some companies set periods of 18, 24 or even 30 months. You’ll be notified of these when your employer signs up and when you apply.

What happens at the end of the salary sacrifice term?

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The bike is now yours for all intents and purposes. However, there is a quirk in the HMRC cycle to work guidance which states that if you were to take legal ownership of your bike and equipment immediately upon paying off the salary sacrifice amount, you would face a benefit in kind tax of 25% based on the value of the bike (see HMRC’s depreciation table which is in this article below).

Therefore, in order to ensure you don’t have to pay benefit in kind tax and can take advantage of the full cycle to work savings, Gogeta Bike (as well as every other cycle to work scheme), enter you into an extended hire agreement whereby you hire the bike for the remaining period and at the end of that the value is negligible.

To transfer ownership we have to charge a token amount, we make this as low as possible and charge £1. We know it sounds a bit complicated but in reality it isn’t. At the end of the initial salary sacrifice term, the bike is yours in every real sense. It’s also worth remembering - some other cycle to work schemes charge as much as 10% as a transfer of ownership fee. As we have explained, we have to charge something, but this will never be more than £1.

What happens if I leave my job during the initial salary sacrifice period?

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If you leave during the salary sacrifice period, as per the salary sacrifice agreement you will sign as part of your application, your employer will deduct the outstanding balance from your final net pay.

What happens if I take maternity/paternity/adoption leave?

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Your Gogeta Nursery salary sacrifice agreement can be paused during maternity or paternity leave.

How do I spend my Gogeta Bike flexi-voucher?

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When you apply, your employer will approve your application and then pay an invoice for the voucher amount. You’ll receive a Gogeta Bike flexi-voucher by email. When you’re ready to use your voucher, just present it to your chosen retailer and they will redeem the voucher amount.

Do I have to spend my Gogeta Bike flexi-voucher in one go?

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No, your voucher is flexible so you can spend the balance over different transactions with different retailers. You can check the balance of your Gogeta Bike flexi-voucher in your portal (you’ll be sent a link to this when your application is approved).

How long is my Gogeta Bike flexi-voucher valid for?

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It's valid for 12 months. We strongly encourage you to spend your voucher in that period. However if you don't, we can extend the expiry period.

If I don’t spend the full amount on my Gogeta Bike voucher after the initial salary sacrifice period, can I get a refund on the balance?

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No. As you have entered into a salary sacrifice agreement with your employer, you are committed to the amount you selected when you applied. Any amount you do not spend will still be repaid via your salary sacrifice, so it's important to select the correct amount and then to fully spend it.

What happens if my bike is stolen?

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It is your responsibility to insure your bike should you wish to. If your bike is stolen during the salary sacrifice period the employee remains liable for any remaining payments. If the bike is insured and replaced then the agreement continues as normal.

Employer FAQs

Got more questions? We’ve got you covered.

Invite your
employer

Let your employer know you want to use Gogeta. Download our short guide to share with them or simply send them a link to this website. They can apply in minutes online.

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© 2024 Velomatch Limited t/a gogeta. Velomatch Limited t/a gogeta is a registered company in England and Wales as Velomatch Limited (No. 13403344). Our registered address is Birchin Court, 20 Birchin Lane, London EC3V 9DU. We are authorised and regulated by the Financial Conduct Authority under registration number 994240.

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