HALFORDS CYCLE TO WORK
Halfords Cycle to Work
Through the scheme you can save at least 32% on the cost of a new bike.
Employers buy bikes and lease them to employees to cycle to work on. The employer recoups the bike cost though employee salary sacrifice (a monthly deduction from gross salary). Employees make savings on their tax contributions; 32% for standard rate tax payers and 42% for higher rate tax payers, and employers make a 13.8% saving on National Insurance Contributions.