Employees can now reap tax benefits by riding to work on an electric bike through Lime in Milton Keynes

The move, announced on national Cycle to Work Day today (Wednesday), means employees of companies that have signed up to the scheme in Milton Keynes can now benefit from 28% to 47% tax savings on Lime’s monthly minute bundles, with the costs of the subscription deducted from their pre-tax salary.

Lime, which is the world’s largest provider of shared electric bikes and scooters, has joined the cycle-to-work salary sacrifice scheme through a partnership with specialist provider CycleSaver.

With the savings, a 30-minute Lime e-bike ride could cost as little as £1.30.

There are currently two bundles available, one with 500-minutes per month and one with 1000-minutes per month. Both are offered as flexible monthly subscriptions via CycleSaver.

The partnership comes as cycling in UK cities is booming. last year, the number of daily cycle journeys hit an estimated 1.26 million per day in the Capital. In May 2024, 52% of Lime trips in London occurred during peak commute hours.

Hal Stevenson, Director of Policy for Lime UKI, said: “Lime is now more affordable than ever for commuters via our new cycle-to-work scheme and partnership with CycleSaver.

"Tens of thousands of people are already using Lime to commute every morning, so we hope companies and employees that are signed up to the UK’s cycle to work scheme take advantage of this. Offering a scheme that has discounts for both rental e-bikes as well as personal bikes is a great way for businesses to encourage more sustainable and active travel adoption by their employees.”

Dino Bertolis, CEO of CycleSaver, added: "CycleSaver’s cycle-to-work scheme caters specifically for the increasing number of individuals opting to use bike sharing schemes like Lime rather than owning a bike. The success of Lime is a testament to its fantastic product and changing habits of commuters. We believe the savings offered through our cycle-to-work scheme will attract even more regular users."

Companies can sign-up at no cost, and will benefit from a reduction in employer National Insurance Tax for every cycle-to-work product taken out by its employees.

For more information about this partnership, visit here.