Is Halfords Cycle to Work scheme worth it?
Cycle2Work is a great employee benefit which offers the most cost-effective way to get new cycling equipment. The scheme is run via a salary sacrifice meaning you won’t pay tax or national insurance – this saves you between 32% and 42% on your new bike and accessories.
What companies offer cycle to work scheme?
Cycle to Work Scheme
- Green Commute Initiative.
- Cyclescheme.
- Halfords.
- RG Cycle to Work.
- c2w Support.
- Cycle Plus.
- Salary Extras.
- Bike2Work.
How does Ride to Work scheme work?
In essence, your employer buys a bike for you to ride to work and you ‘hire’ it through salary sacrifice (which is where you save by not paying tax and National Insurance contributions on the monthly fees). In other words, your salary sacrifice is made from your gross salary, not your net salary.
Where can I spend my Halfords Cycle to Work voucher?
Halfords Cycle2Work vouchers, also known as your Letter of Collection (LOC), can be redeemed with Tredz through our online checkout, speeding up your ordering process so you receive your new bike, clothing and accessories even quicker. Cycling to work is a great way to get fitter and help the environment.
Can I pay off my cycle to work scheme early?
If an employee leaves the scheme early, the bike or equipment will remain the property of the employer. As such, they will no longer be able to take advantage of the savings made by paying for the bike or equipment from their gross salary before tax.
How do I claim for Cycle to Work scheme?
Sign up at www.cycle2work.info and complete a speedy online application. You’ll need your employer code to complete this. 3. Once your employer has approved your application, you will receive your letter of collection instantly by email – this is what you use to redeem your bike and accessories.
Can an employer refuse cycle to work scheme?
yes, they can refuse to do it.
How much do you have to pay at the end of cycle to work scheme?
At the end of the Hire Period, Cyclescheme will contact employees to discuss the options available. The most attractive option for employees will be to pay a small, refundable deposit (3% or 7% of the accessories value*) and continue to use the Cyclescheme package for an extended period of up to 36 months.
Can I pay a deposit on cycle to work scheme?
Cyclescheme strongly recommends that all participants that wish to keep their bike and/or accessories packages choose the ‘Own it later’ option (as it’s the cheapest). Own it later – You pay a small refundable deposit (either 3% or 7% of your certificate value) and continue to use the equipment for 3 years.
Can you use Halfords cycle2work vouchers with Tredz?
Halfords Cycle2Work vouchers, also known as your Letter of Collection (LOC), can be redeemed with Tredz through our online checkout, speeding up your ordering process so you receive your new bike, clothing and accessories even quicker. Cycling to work is a great way to get fitter and help the environment.
How do you use cycle to work at Halfords?
To use it, all you need to do is present it at the till with your items at your local Halfords store. Prefer to shop online? Simply select Cycle2Work as a payment method and enter your surname and LoC number.
Do you need a letter of collection from Halfords?
A Letter of Collection is exactly what is says – a letter that you use to collect your bike and accessories! To use it, all you need to do is present it at the till with your items at your local Halfords store. What bikes can I get?
What happens at the end of a cycle to work scheme?
At the end of the 36 months you can either choose to send your bike back to your Cycle to Work provider (and your deposit will be refunded) or you take ownership of the bike. No further payments are needed. What happens if I leave my employment during my Cycle to Work scheme?