CYCLE2WORK SCHEME

Proudly Partnered with Halfords

Cycle2work is an initiative which offers a cost-effective way to purchase your new e-Bike. If your employer has joined Cycle2Work, you won’t have to pay tax or national insurance on items – saving you up to 47%!

HOW DO I APPLY?

  • 1. Check Your Employer's Code

    If your employer has a live scheme, you’ll either be given an employer code to sign up directly through Cycle2Work, or be pointed towards your benefits portal to apply.

  • 2. Choose Your E-Bike & Value

    Explore our range of electric bikes and select the one that suits you best. Before applying, make sure you know your employer's code the total value you're applying for.

  • 3. Sign-Up & Approve

    Now that you have your employer code and total value, you're ready to apply. Once your employer has approved your application, you’ll receive a letter of collection.

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WHAT WILL WE NEED FROM YOU?

  • Letter of Collection Number
  • Photo ID (passport or driving licence)
  • Full name, delivery address, specific item (including variation/colour)
  • Proof of address within 3 months (utility or council tax bill/bank statement)

HOW DO I BUY?

  • 1. Use Your Letter of Collection

    Once you have received your letter of collection you can buy your bike. Contact us via email or call us to place your order.

  • 2. Pay Monthly

    Once your scheme starts, the salary sacrifice will be deducted out of your payslip over 12 or 18 months.

  • 3. End of Scheme & Ownership

    At the end of your agreement, Halfords will get in touch to discuss what you want to do next. Read more here.

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HEALTHY YOU, HEALTHY PLANET

WHY CYCLE TO WORK?

Reduce Your Carbon Footprint

Did you know that an Electric Bike can help you reduce your carbon footprint?

Switching from a daily car journey to an Electric Bike can save an average of 249g of CO2 for every Kilometre travelled!

Improve Health and Feel Energised

Incorporating cycling into your daily routine keeps your mind and body healthy, plus helps you to feel energised for work.

Save Money on Fuel and Parking

Cut down on daily expenses by avoiding fuel costs and parking fees, making your commute more economical.

Enjoy Your Commute with No Traffic

Glide past traffic and reach your destination faster with a smooth, stress-free ride.

FREQUENTLY ASKED QUESTIONS

Read More

How can I save through Cycle2Work?

Cycle2Work is an employee benefit which is operated as a salary sacrifice, meaning you agree to give up some of your gross salary (before tax) in exchange for a benefit e.g. a new bike and accessories. By having a salary sacrifice, you’re reducing the amount of income you pay, tax and National Insurance, which is where the savings are made.

The amount you can save is dependent on your tax bracket. The latest tax rates can be seen on the Government website. 20% taxpayers can save 28%, 40% taxpayers can save 42%, and 45% taxpayers can save 47%.

Use Halford's Calculator Saving option above to work out exactly how much you will pay monthly and how big your savings are!

What happens to the e-bike after the initial 'hire'?

For UK Tax purposes, before your initial 'hire' (salary sacrifice) period has come to an end, we’ll be in touch to offer you three options of dealing with any remaining taxable value.

Option 1: You’ll have the option to enter a zero-cost 'extended hire' arrangement directly with Halfords until the value has depreciated to a point of negligible tax value. When this happens, Halfords will then transfer ownership of the bike and/or accessories, so you become the rightful owner. This solution maximises your savings.

Option 2: You can take immediate ownership of the bike at the end of initial 'hire' (salary sacrifice) by making a payment direct to Halfords for the "fair market value" of the bike. The "fair market value" as determined by HMRC is usually 18% or 25% of the original value. The bike and/or accessories will then be yours immediately.

Option 3: You have the option to return the bike at the end of the initial 'hire' (salary sacrifice) period to your local Halfords store where it will be safety checked and donated to ReCycle where bikes are refurbished and sent to Africa.

Don’t forget, you can apply for Cycle2Work again and take out another bike and/or accessories even if you have decided to ‘extend the hire’ and keep the items.

I am trying to apply but my employer code is not working. What do I do?

This could happen if your scheme is not yet opened, has already closed, or your employer code is incorrect. Please contact your HR Department who can give you all the information on when and how to apply.

When can I apply?

Every employer has a different application window. You may have seen this advertised around your workplace or via email. If you are unsure when your Cycle2Work scheme opens and closes, please contact your HR department.