Cycle to work and benefit from regular exercise whilst making your commute greener and cheaper.
It’s quick and easy to join Cycle2work and you’ll save at least 32% on the cost of a new bike and spread the cost over 12 months.How does it work?
Barratt Developments buys the bike and accessories and leases them to you. Barratt then recoup the cost though salary sacrifice (a monthly deduction from your gross salary) and you make savings on your tax contributions; 32% for standard rate tax payers and 42% for higher rate tax payers.
For example, an employee signs up for Cycle2work and chooses to salary sacrifice £1,000 over a 12 month Hire Period to pay for his bike and accessories. The employee would only pay £680 as he/she would have paid £200 of the £1,000 in tax, and would have paid a further £120 of the £1,000 in National Insurance contributions. He receives his £1,000 worth of bike and accessories – but the real cost to him is only £680; a 32% saving on simply buying the bike and accessories.What happens at the end of the 12 month hire period?
After 12 Months you will be contacted to discuss your end of hire options.Where can I shop?
Cycle2work partners with hundreds of retailers to offer thousands of bikes and accessories. There really is something for everyone, whether a beginner or enthusiast and irrespective of age, gender, ability or budget. They offer a huge range of road, touring, hybrid and mountain bikes, and specialist items such as electric and foldaway bikes, across all the leading cycling brands. The Store Locator makes it simple to find local retailers.
You’ll also benefit from:
- Access to over 465 Halfords stores (including Click & Collect from Halfords.com), 22 Cycle Republics, Tredz.co.uk and over 860 independent bike shops
- 10% Free Accessories when redeeming your certificate within Halfords, Cycle Republic or via Tredz.co.uk
- Access to all sales & promotional prices instore at Halfords and Cycle Republic and online at Tredz.co.uk
- Free bike build & 6 week safety check at your local Halfords
- Free 12 month bike care & service plan
- Discount card giving 20% off all bike accessories in Halfords stores for the Initial 12 month Hire Period
- Family discount – 20% off entire Apollo bike range
How do I join?
It’s quick and easy:
1. Go to the secure Halfords Cycle2work website and sign up using the Employer Code BARRATTC2W
2. Your employer will review your application. When it is approved you’ll be sent a Salary Sacrifice Deduction letter from the Company to sign
3. Once Group Payroll have received your signed Salary Sacrifice Deduction letter your will be emailed your Letter of Collection to take into your chosen retailer and exchange for a bike and/or safety accessories or have it delivered to your home address free of charge
4. Start saving and cycling!
Who can I contact with questions?
• You can read the online FAQs
• Call the Cycle2work Employee Support Line on 0345 504 6444 (8am – 7pm)
• or email firstname.lastname@example.org