How do I apply for cycle to work?

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.

How do I get a cycle to work voucher?

Speak to your HR department and request a certificate. Receive the certificate, take it to the relevant bike shop. Redeem the certificate against the cost of bike and equipment. Salary sacrifice commences from your next pay packet.

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.

How often can you claim cycle to work scheme?

Once you’ve finished making salary sacrifice payments, you can have a second (or third or fourth…) bite of the cherry. There is no limit on how many times you use the scheme during your employment, but as you can only have one application per 12 month period, use it wisely!

How much do you pay on the cycle to work scheme?

Own it now – you pay either 18 or 25% of the bike’s value (18% if the bike was initially under £500 and 25% if it was initially over £500).

How long does it take to get a cycle to work voucher?

The cycle to work scheme usually takes 3-14 days from application to redemption. The length of time it takes to go from doing your application to getting your bike and/or accessories can vary; many employees can collect their cycle to work packages directly after being approved.

Can I have 2 Cycle to Work schemes?

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.

Can you pay off cycle 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.

Can you pay off your cycle to work scheme early?

Do you own the bike at the end of cycle to work scheme?

How does the Cycle to Work scheme work? Because it was set up to promote work journeys rather than cycling in general, your employer technically remains the owner of the bike once you finish the hire period.

How do I apply for cycle to work? 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…