Halfords cycle2work

Your old bike needn't be redundant. You may find that as you start to cycle more and more that you need a bike with higher quality componentry, which will allow you to ride more efficiently. You may also sometimes take different routes when travelling to work, i.e. a summer route and a winter route, which might benefit from a different type of bike for each journey.

The Office of Fair Trading has issued a Group Consumer Credit License allowing any employer to run a cycle2work scheme. The license allows you to hire equipment up to the value of £1,000 inclusive of VAT. An employer can then choose to offer whatever range of values within the £1000 limit that they deem appropriate. To see the values available in your scheme, please click "apply now" and review the Min and Max options within the "letter of collection value" section. For more information about your scheme limit, please review your internal communications.

No. The cycle must be used by you, mainly for commuting to work. For example: journeys made between the home and workplace, or part journeys (e.g. to the station), or for journeys between one workplace and another.

The Office of Fair Trading has issued a Group Consumer Credit License allowing any employer to run a cycle2work scheme. The license allows you to hire equipment up to the value of £1,000 inclusive of VAT.

Possibly, although in most cases the effect is likely to be small. However, you need to be aware of the implications of paying less tax and NI contributions and accepting a reduced salary. It is recommended that you seek professional advice if you have any concerns or need more information.

Depending on the success of this year's scheme, your employer may choose to repeat it in the future. However, your employer cannot guarantee that there will be another opportunity to participate.

Halfords has the largest selection of cycles and cycling safety equipment in the UK. Look at our huge range of top brand products

• in our 450 plus store network
• www.halfords.com 

Still can't find what you are looking for? You can contact the Halfords cycle2work team with details of your requirements and they will be happy to suggest the options available.

It is recommended you obtain separate insurance, or check your bike is covered under your home contents insurance policy. If your home contents insurer covers the bike, you must inform them that your Employer (or their nominated agent) owns the bike. Payments will not stop or be suspended due to loss or damage to the bike.

If you leave before the end of the hire period, you must pay your employer the balance of the amount still to pay and this will deducted from your final net pay. You may then have continued use of the equipment without further payment until the hire period expires, when you may be offered the opportunity to purchase the equipment for its then fair market value. However this transfer of ownership is the subject of a separate agreement and is not governed or influenced by the Hire Agreement you sign for this scheme.

Your employer will decide the closing date for the scheme. You will usually have about four weeks to select and order your Letter of Collection, but, to avoid missing the deadline, why not do it now?

Cycles and cyclist's safety equipment are included. The tax exemption defines a "cycle" as "a bicycle, a tricycle or a cycle having four or more wheels, not being in any case a motor vehicle" (192(1) of the Road Traffic Act 1988 (c52.)). An electrically assisted pedal cycle can be included under the scheme.

Cyclists' safety equipment is not defined in the legislation and a common sense approach should be taken when selecting it. This could include:

1. cycle helmets which conform to European standard EN 1078,
2. bells,
3. bulb horns,
4. lights including dynamo packs,
5. mirrors and mudguards to ensure the riders visibility is not impaired,
6. cycle clips,
7. dress guards,
8. panniers,
9. luggage carriers and straps to ensure luggage is carried safely,
10. locks and chains to ensure cycle can be safely secured,
11. pumps,
12. puncture repair kits, tool kits and tyre sealant to allow for minor repairs,
13. reflective clothing,
14. white front reflectors,
15. and spoke reflectors.
16. child seats

Halfords do not charge a fee or any administration costs to set up and operate the cycle to work scheme. Please note, there may be a requirement for internal administration resource eg: payroll involvement, which should be factored into your own internal implementation.

To ensure the smooth running of a scheme and encourage take up we would recommend an election window of no more than a month. This targeted approach will influence the success of the scheme.

No. Anyone in an organisation can promote and manage the process. An authorised representative must sign Halfords' Supplier Agreement, and sign the leasing document should there be one in place.

During the scheme, an authorised representative must sign the employee Hire Agreement so that it can be executed.  (Please ensure that you engage HR and Finance in the initial set up and discussion.)

No, you can still participate. If there is not a Halfords store near your home or work, or you are unable to visit a store, Halfords can arrange to get the bike to you.

You will no longer qualify for the tax relief afforded to this benefit. In such circumstances your payroll department will arrange for the remaining salary reductions to be taken from your net pay i.e. after tax and National Insurance have been deducted. You cannot return the cycle and have your salary re-adjusted.

Your scheme criteria will determine when you are able to apply.

You can technically apply again, each time your employer runs a scheme however, your employer may decide to prevent you from joining another scheme until your first Hire Term has lapsed.

Employers of all sizes across the public, private and voluntary sectors can implement a tax-exempt loan scheme for their employees. To maximize the benefit of implementation, it is desirable that participation in a scheme should be as broad as possible. To qualify for the tax exemption, the cycles and cyclists’ safety equipment loaned by the employer under the scheme must be available to employees generally with no groups of employees excluded.

By operating a cycle to work scheme, an Employer can expect to

• Improve their reward and recognition program
• Make savings from Employer's National Insurance contributions
• Contribute to an environmental or green transport policy
• Release valuable car parking space with less people using cars to commute
• Encourage a fitter, healthier lifestyle