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Cycle2work is an easy and cost-effective way to positively engage with your employees
- Make commuting cheaper, healthier and more environmentally friendly for your employees
- Benefit from improved employee wellbeing and reduced National Insurance contributions
Cycle to work is a Government initiative introduced in 1999 to encourage cycling as a means of transport to work. All public, private and third sector employers can run a cycle to work scheme and all employees in an organisation can hire bicycles and safety equipment through the scheme.
Watch this short video to see Chris from our Cycle2work team give a quick overview of the scheme and what we offer
Cycle2work means employees can save up to 32% on the cost of a new bike and accessories if used primarily for commuting.
It’s really straightforward: employers buy bikes and lease them to employees to cycle to work on. The employees choose the bike and accessories (usually with a £1000 limit) and you recoup the bike cost though employee salary sacrifice (a monthly deduction from gross salary for the duration of the Hire Period). The employee spreads the cost and makes savings on their tax contributions; 32% for standard rate tax payers and 42% for higher rate tax payers. As an employer, you make a 13.8% saving through National Insurance Contributions.
It’s quick and easy to run
Halfords Cycle2work offers unbeatable commercials alongside simple, speedy online processes that maximise choice for the employee and minimise effort for the employer. We don’t charge for managing the scheme and provide full support to scheme administrators.
Contact us to find out more or sign up today.
Employee Sign Up
Save up to 42%* on a new bikeSign Up
Employer Sign Up
Enhance your employee benefitsSign Up