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man riding his bike to work

Cycle to Work Scheme

The aim of the cycle-to-work scheme is very simple, to cut carbon emissions, cut commuter costs and promote healthier lifestyles to employees. A business can save up to £138 on every employee that signs up for the scheme and employees can save up to £420 on the cost of a brand-new bike and accessories.


man riding his bike to work

How does it work?

The cycle-to-work scheme requires a salary sacrifice arrangement, whereby employees agree to a reduction from their gross salary to cover the cost of the benefit - whilst you enjoy saving on tax exemption and National insurance.

The employees each choose their bike and accessories, though are technically hired to them by the employer over a fixed term hire that is usually 12-18 months. Once the period of hire has ended, there is an option for the employee to purchase the bike and accessories for fair market value or return it to the employer.

The Cycle to Work benefit is offered in conjunction with Halfords and is part of the Government’s Cycle to Work initiative, which supports the Co-operative movement’s commitment to promoting healthy living and reducing carbon emissions.

woman using her mobile by her bike

How much money can be saved?

Cycle-to-work saves money for Employers, and EmployeesThe employer can save on their National Insurance contributions of 13.8%. For an employee, at least 30% can be saved than through any other method of payment, due to tax and national insurance savings. For instance, a 20% income tax employee who used the full £1000 budget, would be required to pay only £680 through salary sacrifice at £57.67 a month for 12 months. This saving increases for higher income tax employees.

The £1000 maximum limit has now been removed in instances where a third party with pre-existing FCA authorisation (such as Halfords Cycle2Work) hires the goods directly to the employee, even though the cost is still recovered by the employer through salary sacrifice deductions. This £1,000 maximum will also not apply if the employer is authorised by the FCA for another separate regulated activity.


Employer

What do Employers need to know?

Co-operative Flexible Benefits provide a fully administered scheme allowing you to manage your scheme in seven easy steps. And what’s more, scheme delivery is cost-free for employers.

The Co-operative Flexible benefit Cycle to Work scheme is offered in conjunction with Halfords, which meets all relevant tax guidance (including recent HMRC guidance) and legislative criteria – important to know when introducing a scheme with tax implications.

What is the opportunity?

Our scheme offers employers an opportunity to help staff limit their costs of commuting, promoting a healthy lifestyle, as well as cutting their carbon footprint with each cycle to work. Further aiding your business adhere to CSR and sustainability targets by becoming more sustainable and lower carbon-emitting.

Your local Account Manager will also provide ongoing scheme support, free marketing materials and all the scheme documentation that’s required. We can arrange on-site roadshows to help increase employee awareness, so you don't have to. To find out more about the scheme, please see our Employer FAQs

You can of course take the next step in cutting carbon emissions and business costs, with the EV Cars and Travel scheme.

 

Savings explained* 

Retail value of bike and accessories £100£500

 £1000

Gross monthly reduction** £8.33 £41.67 £83.33
Tax Savings** £1.67 £8.33 £16.67
National Insurance Savings** £0.83 £4.17 £8.33
Net cost per month £5.83 £29.17 £58.33
Total cost over 12 Months £69.96 £350.04 £699.96

Total savings made

£30.00£150.00£300.00

 

 

* Price includes all costs in running the scheme over a 12-month period. Costs included can be used as a guide only and may vary subject to personal taxation. 

**Assumes 20% Tax Rate and assumes 10% Employee NIC Rate.


 

How to Register

To register, please contact our helpdesk team on 0800 458 7929 to discuss your requirements and start saving money and cutting carbon emissions for your business.

We’ll then set up your bespoke scheme based on your needs. Our approach means that we see each business and its staff as unique, so the details of your scheme are tailored individually.

Once you have registered, you can then take the next step in managing your cycle-to-work scheme. Please visit Managing your scheme to learn more about our 7 easy steps.

For any queries you may have, please check our Employer FAQs.


Managing your Scheme

Seven easy steps - our online system makes the whole process really simple for you to administer from start to finish. Save money and cut your carbon emissions.

1. Employer Registration
Contact our helpdesk team on 0800 458 7929 to discuss your requirements. We’ll then set up your bespoke scheme based on your business's needs.

2. Promotion
We’ll help you spread the word, delivering free marketing campaigning that suits your business so you don't have to. Co-operative Flexible Benefits recommend that Employers organise schemes on a periodic basis (for example once or twice a year) with schemes lasting for 3-4 weeks, to ensure your Cycle to Work scheme has a positive impact with your employees.

3. Product Selection
Employees can sign up to the scheme online and choose the bike and safety accessories they would like. If they ever need to, employees can visit one of Halfords' nationwide stores for some help or guidance with their bikes or accessories.

4. Application
Employees use The Co-operative Flexible Benefits secure website to select a Letter of Collection (LoC) for their chosen amount to cover the value of the bike and safety accessories they require. They will then complete a Hire Agreement, which is passed to your Human Resources team for approval.

5. Collection
Employee Letters of Collection are issued within a week of the closure of the scheme. Employees may redeem their LoC at their local Halfords, Treds or at 1100 independent stores for their chosen bike and accessories. 97% of the population lives within 30 minutes of a Halfords store (440+ stores nationwide open every day of the year except Christmas Day). Every bike is collected in ready-to-ride condition: assembled, safety checked and fitted to the user by Cytech trained Halfords staff – the nationally recognised cycle industry accreditation.

6. Reconciliation
Employee Letters of Collection are issued within a week of the closure of the scheme.
Co-operative Flexible Benefits will invoice the organisation at the same time as Letters of Collection are issued to employees so they do not experience a delay in collecting their bikes. Our system delivers the information that payroll teams require to make salary sacrifice deductions.

7. Transfer of Ownership 
At the end of the Hire Term, employers may choose to transfer ownership of the equipment to the employee, and your local Co-operative Flexible Benefits account manager will support this process.

Those 7 simple steps will get your cycle-to-work scheme up and running smoothly and safely, so money can be saved and carbon emissions can be cut.


Employer FAQs

Who is eligible for the cycle-to-work scheme?

Employers of all sizes across the public, private and voluntary sectors can implement a tax-exempt loan scheme for their employees. To maximize the benefit of implementation, participation in a scheme should be as broad as possible. To qualify for the tax exemption, the bikes and safety equipment loaned by the employer under the scheme must be available to all employees with no exclusions.

How much does it cost to set up a cycle-to-work scheme?

Co-operative Flexible Benefits do not charge a fee or any administration costs to set up and operate the cycle-to-work scheme. Please note, there may be a requirement for internal administration resources, like payroll involvement, which should be factored into your internal implementation. 

Do I have to be a Director to run the scheme?

No, anyone in an organisation can promote and manage the process. An authorised representative must sign Halfords' Supplier Agreement, and sign the leasing document should there be one in place.

During the scheme, an authorised representative must sign the employee Hire Agreement so that it can be executed. (Please ensure that you engage HR and Finance in the initial set-up and discussion.)


How long should my scheme be open to my employees?

To ensure the smooth running of a scheme and encourage take-up we would recommend an election window of no more than a month. This targeted approach will influence the success of the scheme. 

Who owns the equipment?

The legislation that governs a cycle-to-work scheme states that the Employer must own the equipment. There can be no automatic right for the Employee to own the equipment at the end of the Agreement. If they do, they cannot claim the tax exemption.

The cycle-to-work scheme operates as a loan: the Employer is technically loaning the equipment to the Employee for a fixed period. Although Employees do not actually own the equipment, they remain custodians of the equipment and are free to use it as they wish, despite it being mainly for cycling to work. 


What happens at the end of the loan period?

There is no automatic entitlement for employees to take ownership of the cycles and safety accessories at the end of the loan period. However, employers may choose to give employees the option to purchase the equipment.

What is the maximum value of equipment an employee can obtain through cycle to work?

The Office of Fair Trading has issued a Group Consumer Credit License allowing any employer to run a cycle-to-work scheme. The license allows employees to hire equipment up to the value of £1,000 inclusive of VAT. An employer can then choose to offer whatever range of values within the £1000 limit that they deem appropriate. 

Can a Letter of Collection be used to get a bike for a family member, partner or friend?

No. The cycle must be used by employees, mainly for commuting to work. For example, journeys made between the home and workplace, part journeys (e.g. to the station), or journeys between one workplace and another. 

How soon can an employer run a second scheme?

Employers can run a second scheme at any time after the first one has been completed. Our recommendation would be to speak with your local Account Manager to arrange an annual plan.

What is a Group Consumer Credit License?

The Office of Fair Trading has issued a Group Consumer Credit License allowing any employer to run a cycle-to-work scheme. The license allows employees to hire equipment up to the value of £1,000 inclusive of VAT.

When can employees collect their bikes?

If it is in stock at your chosen Halfords store simply surrender your LoC and present a form of ID. If it is not in stock, you should request that your chosen bike is ordered into that Halfords store. Your bike will then be built and inspected by a qualified bike mechanic, ready for you to ride away.

What happens at the end of the scheme?

After the agreement period is over, an organisation may offer to sell the equipment to employees for its fair market value at that time (inc VAT). ie: the amount that a buyer would pay to a seller to purchase the bike taking into account its second-hand value and current condition.

What if a bike gets stolen/accidentally damaged?

It is recommended employees obtain separate insurance, or check the bike is covered under the home contents insurance policy. If the home contents insurer covers the bike, employees must inform them that the Employer (or their nominated agent) owns the bike. Payments will not stop or be suspended due to loss or damage to the bike.

What if an Employee leaves early or is made redundant?

If you leave before the end of the hire period, you must pay your employer the balance that is still outstanding and this will be deducted from your final net pay. If you have then continued to use the equipment without further payment, up to the hire period expires, you may be offered the opportunity to purchase the equipment for its then fair market value. However, this transfer of ownership is the subject of a separate agreement and is not governed or influenced by the Hire Agreement you sign for this scheme.

VAT changes

On the 28th of July 2011, HM Revenues and Customs announced important changes to how VAT is incorporated into the Cycle to Work Scheme. This follows the judgement of the European Court in the case of Astra Zeneca.HMRC have confirmed that from the 1st of January 2012, the salary sacrifice scheme for Cycle to Work will be subject to VAT. Employers will therefore charge VAT to employees who are on the Cycle to Work scheme with effect from the 1st of January 2012.

Since HMRC’s announcement in July 2011, our partner Halfords explored the implications of the ruling. After extensive research carried out by their Group Tax Manager, Halfords identified the potential to allow “grandfathering” to apply to existing cycle2work schemes. Halfords championed this approach with HMRC through the Cycle to Work Alliance as a fair and practical approach to implementing the ruling.

We are very pleased to advise that in response to the case developed and presented by Halfords, HMRC has issued further guidance as detailed below:

Salary sacrifice agreements signed before 28 July 2011 which extend beyond 31 December 2011. For salary sacrifice agreements that were in place, that is agreements that were signed before Revenue and Customs Brief 28/11 announcing the change was published (i.e. 28 July 2011) and which extend beyond 31 December 2011.

HMRC will allow amounts of salary foregone in return for taxable benefits to continue to be free of VAT until the dates any fixed-term agreement expires or a fixed number of salary sacrifice payments specified within the agreement are completed. (If the agreement expires before 1 January 2012 any agreement subsequently entered into should follow the VAT treatment described in section 2 below); or, The date of an employee's annual salary/benefits review.

HMRC will regard any salary sacrifice arrangements put in place after that date as a new agreement for VAT purposes which should follow the treatment described in section 2 below. This will be the case even if individual employees continue to receive the same tax benefits as before the review.
Any other review or renegotiation that leads to a change in the provision of benefits under a salary sacrifice agreement or to a change in an employment contract. This would be following one of the above events VAT will be due on any taxable benefits provided on or after 1 January 2012 by way of salary sacrifice.

Salary sacrifice agreements entered into on or after 28 July 2011 Agreements entered into on or after 28 July 2011 must provide for VAT to be accounted for in accordance with the guidance in the Revenue Brief i.e. with effect from 1 January 2012 VAT must be accounted for on amounts of salary foregone in return for taxable benefits.

In summary, all cycle2work arrangements where the agreement was signed prior to 28th July 2011 will be able to run their natural course without any requirement for the Employer to change the employees’ deductions or the VAT payable on those deductions. Halfords welcomes this update, as it will allow existing hire agreements to be unaffected. We can now focus time on ensuring your future cycle2work schemes offer your colleagues the best savings available in the market.

The employer will continue to benefit from NI savings. The Employee will also continue to benefit from NI & Tax savings, however, will not benefit from VAT savings from the 01st January 2012. Whilst the Cycle to Work scheme may not appear as attractive as it has done previously, there are still significant savings available to the employee and we believe that it will continue to be a popular salary sacrifice scheme, which compliments the Government Green Transport Plan.

For more information, please visit the HMRC website


    Employee

    What do I need to know?

    Thanks to Halfords cycle2work, your employer can provide you with a new bike and the appropriate cycling safety accessories and – providing the main use of the bike is for commuting to work – you will have reduced national insurance and taxation on your gross salary.

    This means you'll save a vast amount of money compared to purchasing a bike outright yourself on the high street or driving a petrol or diesel car. Ensuring you have a low-cost commute that is cutting your carbon emissions the more you cycle to work and combining regular exercise. What's more, by paying for this monthly from your salary (over 12 or 18 months), you'll hardly notice the cost – this is called a salary sacrifice.

    What is a salary sacrifice?

    A salary sacrifice means giving up part of your gross salary in exchange for a non-cash benefit – in this case, the bike and safety accessories. Employees will save at least 30% through the cycle-to-work scheme, over using any other payment method.

    Am I eligible to cycle and save?

    Your employer must be willing to run the scheme before you can acquire your bike. The scheme is available to UK taxpayers who pay their taxes under the PAYE system.

    You can spend anything from £100 up to a maximum of £1,000 on a bike and accessories. This can work out to as little as £5 per month. Check out how much you can afford on our savings calculator.

    The maximum limit of £1000 has been removed for instances where a third party with pre-existing FCA authorisation hires the items directly to the employee, even though the employer still pays for the cost through salary deductions.

    Getting Started!

    It's really simple to join – please see our How to Register page.

    Savings explained* 

    Retail value of bike and accessories £100.00£500.00

     £1000.00

    Gross monthly reduction** £8.33 £41.67 £83.33
    Tax Savings** £1.67 £8.33 £16.67
    National Insurance Savings** £0.83 £4.17 £8.33
    Net cost per month £5.83 £29.17 £58.33
    Total cost over 12 Months £69.96 £350.04 £699.96

    Total savings made

    £30.00£150.00£300.00


    * Price includes all costs in running the scheme over a 12-month period. Costs included can be used as a guide only and may vary subject to personal taxation. 

    **Assumes 20% Tax Rate and assumes 10% Employee NIC Rate.


    How to Register

    Follow these easy steps once your employer or organisation has let you know they are running the cycle-to-work scheme.
    Getting your bike is this simple...

    1. Your employer has joined Co-operative Flexible Benefits Cycle to Work Scheme, and you can now choose a brand new bike and safety accessories from any Halfords, Tredz or from over 1000 independent stores. Please visit the store locator to find your local bike shop.

    2. Sign up now – we will then send you login details.

    3. You decide how much you want to spend on a bike and apply for that amount using the login details.

    4. Accept the online terms and conditions for the scheme, and your employer will then see your application.

    5. Your employer approves your application and you can then collect your brand-new bike once you have received a Letter of Collection (LoC) directly from Halfords. You hire the equipment and fund this via a salary sacrifice making huge savings in the process.

    6. Congratulations – You can now cycle to work, save money and cut your carbon emissions.


    Guarantor form

    Please use the link below to download the guarantor form and get started on your cycle-to-work journey. Save money and cut your carbon emissions.

    A witness will be required to complete the guarantor form, so please ensure this can be fulfilled before completion.


    Download the guarantor form

    Getting started

    Employee Sign-up Process

    If your employer is set up for Cycle to Work with Co-operative Flexible Benefits and has an election window available you will be presented with the following options:

    • “Pay Frequency” and “Payment Terms” will display the available options depending on your employer's allowed frequency.
    • “Letter Of Collection Value” is the total amount to be requested via the scheme.
    • Once the “Rate Of Tax” and “Date Of Birth” has been completed, the option to change the delivery address is available to change before placing the order.

    Once the order button is clicked you should then be presented with your Hire Agreement showing the terms of your request and estimated savings from the scheme, please give the Hire Agreement to your employer for them to approve your application.
    The cycle to work scheme will allow you to save money and cut your carbon emissions with every commute.


    Employee FAQs

    What if I already own a bike - why would I want a new one?

    The current bike you own can of course be used to cycle to work. However, you may find that as you start to cycle more regularly that you need a more suitable bike for everyday commuting, that would allow you to ride more efficiently. You may also sometimes take different routes when travelling to work, i.e. a summer route and a winter route, which might benefit from a different type of bike for each journey.

    What is the maximum value of equipment I can obtain through the cycle-to-work scheme?

    The Office of Fair Trading has issued a Group Consumer Credit License allowing any employer to run a cycle-to-work scheme. The license allows you to hire equipment up to the value of £1,000 inclusive of VAT. An employer can then choose to offer whatever range of values within the £1000 limit that they deem appropriate.

    This £1000 maximum limit has now been removed in instances where a third party with pre-existing FCA authorisation (such as Cycle2Work) hires the goods directly to the employee, even though the cost is still recovered by the employer through salary sacrifice deductions. This £1,000 maximum will also not apply if the employer is authorised by the FCA for another separately regulated activity.

    The average limit set by Employers for the last 12 months was £1822 and the average transaction was £789 for a 12-month salary sacrifice.

    To see the values available in your scheme, please click "apply now" and review the Min and Max options within the "letter of collection value" section. For more information about your scheme limit, please review your internal communications.


    How can I work out the value of my chosen items?

    By using the Cycle to work Savings Calculator.

    What type of bike can I have?

    Cycle to work offers the largest range of bikes across the UK thanks to Halfords, Tredz and over 1000 independent stores. Employees can choose between the following types of bikes:

    • Road
    • Mountain
    • Hybrid
    • Folding
    • Electric
    • CX
    • Gravel
    • Tandem
    • Trike

    When can I collect my bike?

    If it is in stock at your chosen Halfords, Tredz or independent store, simply hand in your LoC and present a form of ID. If it is not in stock, you should request that your chosen bike is ordered into that store. Your bike will then be built and inspected by a qualified bike mechanic, ready for you to ride away.

    Will salary sacrifice schemes affect my entitlement to benefits?

    Possibly, although in most cases the effect is likely to be minor. However, you need to be aware of the implications of paying less income tax and NI contributions and accepting a reduced salary. It is recommended that you seek professional advice if you have any concerns or need more information.

    How can I compare my commute by cycling, driving and public transport?

    By using The Cyculator, you can plug in points A and B to get your journey times.

    If I decide not to participate in the scheme now, can I join later?

    Depending on the success of this year's scheme, your employer may choose to repeat it in the future. However, your employer cannot guarantee that there will be another opportunity to participate, so join when you can.

    How long do I have to apply for the scheme?

    Your employer will decide the closing date for the scheme. You will usually have about 2 to 4 weeks to select and order your Letter of Collection, but, to avoid missing the deadline, why not do it now? 

    What equipment is available?

    Cycles and cyclists' safety equipment are included. The tax exemption defines a "cycle" as "a bicycle, a tricycle or a cycle having four or more wheels, not being, in any case, a motor vehicle" (192(1) of the Road Traffic Act 1988 (c52.)).

    An electrically assisted pedal cycle can be included under the scheme. Cyclists' safety equipment is not defined in the legislation and a common sense approach should be taken when selecting it. This could include:

    • Cycle helmets which conform to European standard EN 1078
    • Bells
    • Bulb horns
    • Lights including dynamo packs
    • Mirrors and mudguards to ensure the rider's visibility is not impaired
    • Cycle clips
    • Dress guards
    • Panniers
    • Luggage carriers and straps to ensure luggage is carried safely
    • Locks and chains to ensure the cycle can be safely secured
    • Pumps
    • Puncture repair kits, tool kits and tyre sealant to allow for minor repairs
    • Reflective clothing
    • White front reflectors
    • Spoke reflectors
    • Child seats

    Current guidance from HMRC states that bike Satnavs and cycle computers are not allowed within the Cycle to Work scheme. 


    What equipment is not available?

    • Bike frames
    • Forks
    • Mounted cameras
    • GPS
    • Turbo trainers
    • Cycle carriers
    • E-Scooters

    Can an employee enter into more than one Hire Agreement concurrently?

    An employee can have more than one Hire Agreement for Cycle to Work with you at a time. However, you must make sure that any combination of Hire Agreements does not take the employee below the National Minimum Wage. As an employer, you may choose to remove this option restricting employees to one hire term at a time.

    Can I take part in more than one scheme?

    You can technically apply again each time your employer runs a scheme, however, your employer may decide to prevent you from joining another scheme until your first Hire Term has lapsed.

    Can I add my own money to the value of an LoC to get a more expensive bike?

    No, as to be eligible for the tax break, the bike must remain the sole property of the employer for the duration of the hire period. For that reason, the selected letter of the collection must cover the full cost of your selection (bike and accessories) and you cannot add your own funds of any description to the transaction. Though you can certainly add your own cycle GPS to your bike, which is not covered by the scheme.

    What happens at the end of the loan period?

    There is no automatic entitlement for you to take ownership of the cycles and safety accessories at the end of the loan period. However, your employer may choose to give you the option to purchase the equipment.

    Who owns the equipment?

    The legislation that governs a cycle-to-work scheme states that the Employer must own the equipment, so it is not an employer contribution type scheme. There can be no automatic right for the Employee to own the equipment at the end of the Agreement. If they do, they cannot claim the tax exemption.

    Therefore a cycle-to-work scheme operates as a loan: the Employer is technically loaning the equipment to the Employee for a fixed period. Although Employees do not own the equipment, they remain custodians of the equipment and are free to use it as they wish, providing it is mainly to ride to work. 


    Can I select more than one bike?

    Your scheme criteria will determine whether this is allowed. However, the legislation does not prohibit the selection of two cycles providing that both are used for commuting to work. For example, you may have a summer route and a winter route to work, both requiring different things from a bike. 

    What is the maximum value of equipment I can obtain through the cycle-to-work scheme?

    The Office of Fair Trading has issued a Group Consumer Credit License allowing any employer to run a cycle-to-work scheme. The license allows you to hire equipment up to the value of £1,000 inclusive of VAT. An employer can then choose to offer whatever range of values within the £1000 limit that they deem appropriate. 

    Will a salary sacrifice affect my entitlement to benefits?

    Possibly, although in most cases the effect is likely to be small. However, you need to be aware of the implications of paying less income tax and NI contributions and accepting a reduced salary. It is recommended that you seek professional advice if you have any concerns or need more information.

    If I decide not to participate in the scheme now, can I join later?

    Depending on the success of this year's cycle-to-work scheme, your employer may choose to repeat it in the future. However, your employer cannot guarantee that there will be another opportunity to participate. 

    Where can I get my bike and cycling safety equipment?

    Halfords has the largest selection of cycles and cycling safety equipment in the UK. Though you can also use Tredz and there are over 1000 independent stores which may also use.

    Please use the store locator on the cycle2work website to find your nearest store and the location of participating independent stores.


    What if my bike gets stolen/accidentally damaged?

    It is recommended you obtain separate insurance, or check your bike is covered under your home contents insurance policy. If your home contents insurer covers the bike, you must inform them that your Employer (or their nominated agent) owns the bike. Payments will not stop or be suspended due to loss or damage to the bike. 

    What if an Employee leaves early or is made redundant?

    If you leave before the end of the hire period, you must pay your employer the balance of the amount outstanding and this will be deducted from your final net pay. You may then have continued use of the equipment without further payment until the hire period expires, as you may be offered the opportunity to purchase the equipment for its then fair market value.

    However, this transfer of ownership is the subject of a separate agreement and is not governed or influenced by the Hire Agreement you sign for this scheme.


    I have a lot of other salary sacrifice benefits, is this OK?

    If the total value of all your salary sacrifice arrangements means that your wage is taken below that of the National Minimum Wage, you may not be able to sacrifice any more of your wage.

    When can I collect my bike?

    If it is in stock at your chosen store simply hand in your LoC and present a form of ID. If it is not in stock, you should request that your chosen bike is ordered into that store. Your bike will then be built and inspected by a qualified bike mechanic, ready for you to ride away. 

    Can a Letter of Collection be used to get a bike for a family member, partner or friend?

    No, the cycle must be used by you, mainly for commuting to work. For example, journeys made between the home and workplace, part journeys (e.g. to the station), or journeys between one workplace and another.

    What if I can't get to a store, will I miss out?

    No, you can still participate. If there isn't a store near your home or work, or you are unable to visit a store, the store can arrange to get the bike to you. Though 97% of the UK live within 30 minutes of a Halfords store.

    What happens if I do not use the bike for commuting after I have joined the scheme?

    You will no longer qualify for the tax relief afforded to this benefit. In such circumstances, your payroll department will arrange for the remaining salary reductions to be taken from your net pay i.e. after tax and National Insurance have been deducted. You cannot return the bike (and any safety equipment) and have your salary re-adjusted.

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