Where can I use Cycle 2 Work scheme?
Where can I use Cycle 2 Work scheme?
Where can employees redeem? Cycle2Work is supported by a wide range of specialist bike dealers, catering to everyone regardless of their needs, budget, location or journey to work! This includes: Halfords: 465+ stores and online via Click & Collect at www.halfords.com.
Can you buy 2 bikes on the cycle to work scheme?
No. The scheme works because it’s your bike and you are riding it to work (generating your tax break) – you cannot get a bike for anybody else. However, it is worth noting that you can get more than 1 bike on the scheme as long as they are both for your commute.
How does bike 2 Work scheme work?
The scheme allows Employees a tax exemption whereby they save on Income Tax and National Insurance contributions by having the cost of the bike/equipment deducted from their gross salary via salary sacrifice. Payment is to be made in the form of interest free weekly/monthly instalments.
Where can I use my Halfords Cycle to Work voucher?
Halfords Cycle2Work vouchers, also known as your Letter of Collection (LOC), can be redeemed with Tredz through our online checkout, speeding up your ordering process so you receive your new bike, clothing and accessories even quicker. Cycling to work is a great way to get fitter and help the environment.
Do you own the bike at the end of cycle to work scheme?
How does the Cycle to Work scheme work? Because it was set up to promote work journeys rather than cycling in general, your employer technically remains the owner of the bike once you finish the hire period.
Can I buy a childs bike on cycle to work scheme?
Yes. As of 2019 the government relaxed the rules of the scheme allowing you to purchase a frame, components, or clothing and accessories with the voucher. Car racks, turbo trainers, cameras, GPS and children’s bikes are not available through any Cycle to Work schemes.
Can an employer refuse cycle to work scheme?
yes, they can refuse to do it.
Is Halfords cycle to work scheme worth it?
The savings aren’t worth it Nope: you’ll save more with Cyclescheme. You don’t pay income tax or national insurance on the bike as its cost is deduced from your gross salary, saving you 32% (standard rate taxpayers) or 42% (higher rate taxpayers).
Do I own the bike at the end of cycle to work scheme?
The cycle to work benefit is a tax-efficient hire benefit. As such, you do not own the bike in the first instance (albeit it is in your care and you can use it as if it were your own).
How much will I save on bike to Work scheme?
The maximum saving that can be made under the cycle-to-work scheme is €495. If you earn a gross salary below €33,800, then the most you can save (i.e., if you spend the full €1,000 on a bike and equipment) is €295. For anyone earning €33,800 or above the maximum saving rises to €495.
How much do you pay at the end of cycle to work?
At the end of the hire period, Bike to Work Ltd will contact employees to discuss the options available. The most attractive option for employees will be to pay a small, refundable deposit (3% or 7% of the equipment value*) and continue to use the bicycle for an extended period of up to 36 months.
Can you use Halfords cycle 2 work scheme at other shops?
Some shops, i.e. Condor in London, take the vouchers directly or you can choose the bike you want they source it via Halfords Cycle2Work admin people. They get the bike but you have to pick it up from your local Halfords.
Are there any bike to work schemes in the UK?
We’ve teamed up with CycleScheme, Bike2Work Scheme, Work Riders, Green Commute Initiative & Halfords to offer employers in Cumbria and throughout the UK a really successful cycle-to-work scheme designed to get more and more people out and about riding bikes and reaping the multitude of personal and environmental benefits!
Can you use cycle2work to get an e-bike?
Through the Cycle2Work scheme, you can get any type of bike you like, even an e-bike. Providing that added assistance when you need it, electric bikes are a great choice and help create an easy commute. All while still getting exercise!. Use the Cycle2work scheme to get an e-bike and you can also get all the accessories you’ll need.
How does the cycle to work scheme work?
Cycle2Work the scheme acts as a tax break, which means you can get a brand-new bike without paying tax and national insurance on it. The cost of your new bike is spread out over a fixed period (either 12 or 18 months), with your employer deducting the money from your salary before you’re paid.