Helpful tips

Is the cycle to work scheme still available?

Is the cycle to work scheme still available?

Cyclescheme is still open for business. Companies signed up to Cyclescheme can thus continue to make cycling even more accessible to their staff. As usual, your employees will save 25-39% of RRP and they’ll be able to spread the cost. Alternatively, it can be validated for use at another store by Cyclescheme.

What bike can I get on cycle to work scheme?

With the scheme you can get any adult bike plus a wide range of cycling safety accessories. If you already own a bike, you can also apply for just accessories!

Where can I use my cycle to work voucher?

You can shop in-store at Halfords or Tredz. All you need to do is present your Letter of Collection and ID along with your iterms at the till. If you prefer to shop online, you can redeem your Letter of Collection online at www.tredz.co.uk or by using Click & Collect at www.halfords.com.

Can I use cycle to work scheme if I work from home?

Cyclescheme welcomes the temporary guidance easement from the government. The easement confirms that the Government supports the principle that employees working from home and using scheme equipment for exercise and/or utility journeys remain eligible for the cycle to work tax exemption.

Can you get 2 bikes on the cycle to work scheme?

No. The scheme works because it’s your bike and you are riding it to work (generating your tax break) – you cannot get a bike for anybody else. However, it is worth noting that you can get more than 1 bike on the scheme as long as they are both for your commute.

Is the Cyclescheme worth it?

The savings aren’t worth it Nope: you’ll save more with Cyclescheme. You don’t pay income tax or national insurance on the bike as its cost is deduced from your gross salary, saving you 32% (standard rate taxpayers) or 42% (higher rate taxpayers).

Does the cycle to work scheme cost the employer anything?

Does the scheme cost anything for an Employer to implement? The scheme is free of charge to set up and costs nothing to run. The Employer makes the initial purchase and then leases the bike/equipment to the Employee via a salary sacrifice, until the full amount is recovered.

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. Alternatively, to make repayment more manageable for the outgoing employee, the employer could split it over a longer period. This would require a new agreement to be drawn up and signed by both parties.

How do I know if my employer is in the cycle to work scheme?

You can search for your employer by name our homepage. If you still cannot find them your best bet is to ask your boss or HR contact or contact Cyclescheme.

Is the cycle to work scheme worth it?

However, it is still widely used and, according to national cycling charity Cycling UK, very worth it. Sam Jones at Cycling UK told us: “We’re absolutely pro the Cycle to Work scheme – you make a saving, it helps people spread the cost out over time, and it helps employers and employees think about cycling.”