To promote healthier journeys to work and reduce environmental pollution, the 1999 Finance Act introduced an annual tax exemption, allowing employers to loan cycles and cyclists' safety accessories to employees as a tax-free benefit. The exemption was one of a series of measures introduced under the Government's Green Transport Plan.
With over a 100 years of cycle industry experience, Halfords was invited to join the working party that helped produce the Department for Transport Cycle to Work guidelines. As a result, we became pioneers of the scheme and launched the first cycle2work scheme in 2003. We now lead the way, with over six years` experience of running cycle2work schemes for organisations of all shapes and sizes.
Working with Halfords is the secure choice. As a large FTSE retailer of car parts, accessories as well as cycles, and operating in more than one market, we offer stability and continuity. Since opening our first bike shop over 100 years ago, we`ve become the UK`s largest cycle retailer and developed a unique understanding of the cycle industry. Halfords cycle2work is managed by our team at the Head Office in Worcestershire.
The legislation for the Government's cycle to work scheme is continually developing. Halfords take pride in adhering to the compliance set by the Government, whilst keeping up to date with legislative changes through our close relationships with DfT, HMRC and the OFT.