Cycle to Work Scheme
The Cycle to Work scheme is one of the UK’s fastest growing and most sought after employee benefits.
It is a Government backed initiative to enable employees to save up to 42% on the cost of a bike and cycling safety accessories for the purpose of cycling to work.
How does it work?
You will pay for your bike through a Salary Sacrifice arrangement and are in effect hiring your bike from Flight Centre UK Limited over 12 months, and paying for this through your gross or pre-taxed pay. You are able to make savings through lower Tax and National Insurance (NI) contributions.
What bikes can I choose?
The Bike Scheme runs in conjunction with Halfords stores, which means you can go to any of their 460+ stores to choose exactly what bike and cycle safety accessories you want (the minimum total order value you can have through this scheme is £100, the maximum is £1000). In addition to Halfords, you can also nominate a local Independent Retailer meaning you are also able to obtain a bike from most stores. Most retailers will draw you up an invoice and some will reserve your goods, if you let them know you are using the scheme.
How much can I apply for?
During your first 6 months of employment you are eligible to apply for a voucher upto £500. Thereafter the maximum you are eligible to apply for is £1000.
Where can I find out more and apply for the scheme?
All T&C's, helpful info and application form can be found on the benefits portal. Click the link below.
If this is your first use of the portal check out the 'How To' Guide on the Benefit Portal Information page.