Richardsons Cycles Cycle2Work savings calculator

Would you like to see how much you could save by purchasing a new bike, helmet and accessories at Richardson's Cycles through the Cycle2Work scheme?
Simply enter your salary, the cost of your bike, helmet and accessories and we'll work out your savings and the approximate monthly deductions from your salary.
Note: This page performs all its calculations on your computer and does not transfer any personal information over the internet.

 
Enter your details
Your annual salary (before tax)£
Cost of bike£
Cost of helmet£
Cost of accessories£
 
Retail cost of your purchase
Total cost including VAT before savings£
Total cost excluding VAT before savings£
Monthly salary sacrifice (1)£
 
Savings via Cycle2Work
Income tax saving£
National insurance saving£
VAT saving£
 
Total Savings£
% savings via Cycle2Work
 
Total cost of your purchase
Total cost after saving£
Effective monthly cost (2)£

(1) This is the amount your salary will be reduced by per month based on a 12 month period
(2) This is the difference in your take home pay after the savings have been applied based on a 12 month period
This calculator assumes all earnings come from a salary and that your employer can reclaim VAT (Note: VAT is not applied to helmets). This calculator is based on tax and NI information for the 2007-2008 financial year. National insurance is calculated at 0% on earnings between £0 and £5,225 p.a., 11% on earnings between £5,225 and £34,840 p.a. and 1% thereafter. Income tax is calculated at 10% on earnings between £0 and £2,230 p.a., 22% on earnings between £2,230 and £32,370 p.a. and 40% thereafter (personal allowance of £5,225 p.a. is deducted before tax is calculated). This calculator is intended to be used for illustration purposes only