You’re one click away from unlocking savings of up to 57% for your employees on the cost of a new bike and accessorises with the UK’s number one cycle to work provider.
Why offer Cycle2work?
Deliver a benefit with unbeatable choice, value and convenience
With access to 98% of UK bike brands, including Halfords own-brands – we offer more choice than any other provider. Helping you get the best from your cycle to work scheme. With benefits for employee health, environmental initiatives and more, deploying Cycle2work in your workplace has loads to offer.
Choice
- Access to a network of Halfords, Tredz and 100’s of Independent bike shops
- Bikes starting from only £140+
- Options for employees on National Minimum Wage to ensure compliance
- Scheme with big brands – Carrera, Boardman, Specialised, Giant, Scott and much more
Value
- 13.8% NIC Business savings
- Access Halfords and Tredz sale and promotional prices
- No final transfer fees
- Enhanced offers to employees
- Lifetime guarantee on Halfords brand bikes
Service
- Effortless admin
- Fully managed self-serve portal
- Instant certificate dispatch
- Experts on hand to support you every step of the way
Why choose Cycle2work?
Features and Benefits
Employee savings
Maximum savings with no hidden fees
Business NIC savings
A scheme which rewards the employer
UK bike brands
More choice than any other scheme
Corporate & SME clients
1000's of employees onto bikes each month
*Cycle2Work savings based on an additional rate tax payer using Cycle2Work Exclusive Discount.
What makes Cycle2work unique?
A scheme geared around you and your employees
As a founding member of the Cycle to Work Alliance, our scheme is fully compliant and ready for use. In addition to free-of-charge marketing and free events to engage and excite your employees we offer:
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Retrospective Invoicing
We get your employees onto their bikes quicker and sooner than any other provider.
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Employee inclusivity
A scheme with the widest choice to suit all budgets and solutions for employees not eligible for salary sacrifice to ensure scheme compliance.
Learn more -
Scheme management
A self serve employer portal to manage applications, gain data insights and marketing tools to unlock the full potential of your scheme.
What can it do for my business?
Energise and inspire your workforce
Cycle2work is easy to implement and achieves fantastic results for you and your business. It’s a win-win employee benefit.
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Cost neutral
All costs are recouped by the employer via the salary sacrifice deductions.
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Corporate benefits
Enhances your corporate benefits package to attract and retain employees.
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Employee wellbeing
Improves business productivity by improving employee wellbeing.
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Carbon footprint
Contributes to Business ESG plans by reducing your carbon footprint.
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Savings
Saves you 13.8% in employer National Insurance contributions.
How does the Cycle2work scheme work?
Launch in three easy steps
You can administer your scheme, access your account and approve employee applications through the employer Cycle2work portal.
Step 2
Set up your employer portal
Set admin rights parameters of your scheme, access marketing resources and book events.
Step 3
You’re ready to go
Promote your Cycle2work scheme and start approving employee applications.
Who is Cycle2work for?
An inclusive Scheme.
Open to all.
From avid riders to beginners, our scheme is designed be inclusive and meet the needs of your entire workforce.
Learn more
What other information is available?
A few frequently asked questions
For more FAQs, please visit our FAQ Hub.
Visit FAQ HubAll UK based organisations can offer the Cycle to Work scheme if they are PAYE.
No, you do not need HMRC to approve your cycle to work scheme. For HMRC guidance on this, please visit Salary sacrifice for employers – GOV.UK
Our aim is to minimise the administration for our clients and maximise savings for the employee.
One of the ways we do this is by managing the full end of hire process. Halfords will take full responsibility for this process directly with The Employer’s employees.
At the end of hire period Halfords will offer your employees 3 compliant options:
- Zero cost Managed Extended Hire (Most popular option with employers). The employee will have the option to enter a zero-cost extended hire arrangement directly with Halfords until the value has deprecated to a negligible point aligned with the HMRC cycle to work matrix table, when Halfords will then transfer ownership of the bike. This solution eliminates admin for the employer, maximises the savings through the scheme for the employee, and permits them to join the scheme again the following year. Halfords do not charge for Managed Extended Hire which can save your employees a further 3%, 7% or 10% compared to other scheme providers.
- Fair market value payment. The employee can take immediate ownership of the bike at the end of initial hire term by making a payment direct to Halfords for the fair market value of the bike. This value is defined by the HMRC matrix table which at the end of the initial hire term is 25% (Bike initial cost greater than £500) or 18% (bike initial cost less than £500) of the bikes original cost.
- Return the bike. Employees also have the option to return the bike at the end of the initial hire term to their local Halfords store where it will be safety checked and donated to ReCycle where bikes are refurbished and sent to Africa where they are essential means of transport across rural countries.
We will reach out to employee using the details we have on file to inform them that if they do not select an option from the list above within 30 working days, they will be automatically enrolled onto the zero-cost extended hire arrangement.