What is the Cycle2Work Schemeand how does it function?
The Cycle2Work Scheme is a programme initiated by the government to providecycling equipmentto the public at an affordable rate. Participants in the scheme make payments for their Bike through a salary sacrifice, allowing them to avoid paying tax or national insurance. You will pay for the cycling gear in monthly instalments deducted from your salary over 12 or 18 months, sparing you from a large one-time payment!
What is the Salary Sacrifice payment option, and how much could I potentially save with it?
The salary sacrifice payment option lets you pay for your cycling gear in monthly instalments directly from your salary. By eliminating tax and national insurance through the salary sacrifice, you can save up to an impressive 43.25%!
How to apply?
Applying for the Cycle2Work Schemeis quite straightforward and can be summarised in three simple steps.
1) Your Employer Code
First, you need your employer code. If you are not aware of this, we suggest reaching out to your HR department.
2) Signing Up
Once you have your Employer Code, you can register on the Cycle2Work website; click here to register.
3) Approval & Letter of Collection
After your employer approves your application, you will receive a Letter of Collection. You can now use this letter to collect your new bike and Bike Parts.
Can you get an Electric Bikeas part of the Cycle2Work Programme?
Yes, you are allowed to use an electric bike as part of theCycle2Work Scheme.
Where can I buy a Bike, Electric Bike or Bike Protection and Bike Accessoriesfrom as part of my Cycle2Work Programme?
At SkateHut, you can purchase a complete selection of bikes. From BMX Bikes, Mountain Bikes, Wheelie Bikes, Hybrid Bikes, to Balance Bikes, Kids Bikesand much more, we offer everything you need before beginning your Cycle2Work shopping. We also provide a variety ofBike Accessories, Helmets, Knee Padsand a comprehensive range ofBike Protection too!
What if I am only interested in cycling accessories instead of a complete bike?
You can indeed use the Cycle2Work programme exclusively for bike accessories.
Must I cycle to work every day to qualify?
No, it is not necessary to cycle to work every day to be eligible for the programme.
How do I determine the amount to apply for?
It is recommended to note down your desired Bike for Sale and/or accessories before applying, ensuring you have an exact amount to request. This is crucial because once your application is submitted and approved, it cannot be changed.
When can I apply?
Each company has its own application period. We recommend consulting with your HR department for further information on when you can apply.
Is it possible to apply multiple times?
Yes, as long as you stay within the maximum limit, you can apply multiple times as long as your deductions do not fall below the National Minimum/Living Wage. However, this also depends on your employer and their policy.
Can I acquire more than oneBike?
Indeed, you are allowed to purchase two bikes, as long as they are safe for riding and appropriate for your requirements, and provided that the combined cost remains within the maximum limit of your individual plan.
A comprehensive selection of our offerings is available for viewingBike, bike accessories and Bike Protectionon our website. Take a look at ourelectricssection, which includeselectric bikes, electric scooters andelectric skateboards!