FREQUENTLY ASKED QUESTIONS

Table of contents

01 How does it work?
02 Application
03 Redemption
04 End of hire
05 Responsibilities & Contact Us

HOW DOES IT WORK?

I already own a bike- can I apply?

Of course! You may want to get a whole new upgrade, or a second bicycle for a different season or terrain. Just want accessories? Using the Cycle2Work scheme for accessories only is a very popular option for employees who already own a bicycle and just want to upgrade their equipment.

Will this affect my other employee benefits?

This is very unlikely, however every company and employee is different so please speak to your employer for more advice.

How can I save through Cycle2Work?

Cycle2Work is a great employee benefit which offers the most cost-effective way to get new cycling equipment.

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 are reducing the amount of income you pay tax and National Insurance on which is where the savings are made. The amount you can save is dependent on the tax bracket you are in. The latest tax rates can be seen on the Government website. 20% taxpayers can save 32% and 40% taxpayers can save 47%. Use our Savings Calculator to work out exactly how much you will pay monthly – and how big your savings are!

Do I have to cycle to work every day?

In short, no! The government guidelines state that you should use your bike and accessories for commuting for at least 50% of its usage. However, you do not have to log your bikes mileage and we thoroughly encourage you to use your bike in your spare time!

APPLICATION

How do I apply?

To make a Cycle2Work application, go to www.cycle2work.info and click on ‘Employee Sign Up’. This is where you register using your unique employer code: EMPLOYERCODE. You’ll then receive an email with a link to verify your email address and complete your application. Your application will be sent off to your employer, and once approved, you’ll receive your Letter of Collection by email.

When can I apply and how much can I apply for?

Your company’s scheme is open between DATES-DATES and you can apply for anything between £100 and LIMIT.

How do I know how much to apply for?

We recommend finding your perfect bike and accessories before applying so you know exactly what amount to apply for. This way you won’t apply for too much or too little – this is really important to get right because you cannot amend your application once you have been approved.

Can I amend my application once I've applied?

Technically once you have submitted your application, you are unable to amend it. What you can do in some cases is cancel your application and reapply for your new amount – however this is not always possible, so we advise that you ask your employer for their cancellation terms and conditions!

Can I apply more than once?

As long as you don’t exceed the maximum limit you can certainly apply more than once – providing the deductions from your payslip don’t take you below the National Minimum/Living Wage. For example, if your scheme’s limit is £1000 and you’ve applied for £500, you could technically apply for another £500 if you decide you want to make more savings!

REDEMPTION

What is a letter of collection?

A Letter of Collection or (LoC) is exactly what it says - a letter that you use to collect your chosen bike and accessories! You will be sent this via email or post once your application is approved.

Do I have to spend my letter of collection all at once?

Yes, you must spend the whole Letter of Collection as you can only use it once, and the amount you have applied for will be the set amount that you pay, for even if you spend less.

Can I add my own money to my LOC?

No. You are not allowed to use your own money to add funds or ‘top up’ your Letter of Collection so it is important you apply for the correct amount.

What are ‘hire periods’ and ‘hire agreements’?

Your hire agreement is essentially the 'terms and conditions' of Cycle2work, which you will agree to when applying. Your hire period is the period that this agreement is valid for. It's traditionally also the period in which you will pay your salary sacrifice (this tends to be 12 or 18 months).

Where can I get my bike and accessories from?

You can shop in-store at Halfords, Tredz or one of the independent shops we work with. If you prefer to shop online, you can redeem your Letter of Collection online at Tredz.co.uk or by using Click & Collect at Halfords.com. If you’d like some help or advice, get in touch with the Cycle2Work Customer Support Team on 0345 504 6444.

Can I get more than one bike?

Yes! If you would like to get two bikes you certainly can – as long as they are both suitable and safe for you to ride, and your total doesn’t exceed your scheme’s maximum limit.

What bikes and accessories are available?

You can get any adult bike type, and we are proud to offer 98% of brands in the UK market - including over 100 electric bikes! There is also a huge range of cycle safety accessories available for you to choose from. For a definitive list of what accessories are eligible, please go to www.cycle2work.info/FAQ.

Do I have to get a bike? Can I just get accessories?

Yes! You are more than welcome to just get cycle accessories. Treat yourself to a new helmet, clothing for every season, locks, lights and much more.

END OF HIRE

What happens at the end of the initial hire period?

When your hire period is coming to an end, the Cycle2Work team will contact you via email and present the three post hire period options below for you to choose from.

Zero Cost Extended Hire

This allows you to opt into an extended rental agreement at NO additional cost. Your hire agreement is extended but you have nothing else to pay. At the end of the extended hire agreement (usually 4-5 years the ownership will be automatically transferred to you.

Take Immediate Ownership

This allows you to pay the HMRC Fair Market Value (usually 18% or 25% of the original value) and then the bike is yours!

Return the goods to any Halfords store

You also have the option to return the bike to any Halfords store at the end of the initial hire term.

Are there any additional benefits?

Of course! when you enrol onto the Cycle2Work scheme, you will have access to the following benefits:

• 10% off cycling essentials at Halfords for 12 months
• Unlimited lifetime safety check on all cycles obtained through the scheme
• Lifetime Guarantee on Halfords brand cycles
• 14 days free cycle insurance

RESPONSIBILITIES

What happens if my bike gets damaged or stolen?

Looking after your bike is your responsibility, however, to make this a whole lot easier we offer all of our members 14 days free insurance on bikes purchased from Halfords. This insurance is NOT applied automatically and you must activate it here. Please note, if your bike is damaged or stolen and you do not have insurance, your payments will continue regardless.

Can I use Cycle2Work to get a bike for someone else?

No, the items that you select must be for yourself.

Who is responsible for the Maintenance of the bike?
You as the customer are responsible for the maintenance of your bike to ensure it is usable to commute to work.

What if I leave my company within the hire agreement?

We completely understand that life can be unpredictable. If you were to leave your company or be made redundant in your hire period, the remaining gross balance would simply be deducted from your last payslip.

CONTACT US

If you have any further questions about Cycle2Work, our specialist team are on hand to support:

0345 504 6444 (Monday-Friday 8:45-5pm)
cycle2.work@halfords.co.uk
www.cycle2work.info

Find your nearest Cycle2Work participating retailer:

Halfords

Tredz

Independent Bike Shops

Independent

Bike Shops