cycle2work
How does it work ?
Cycle2Work is a government initiative which offers the most cost-effective way to get new cycling equipment. The scheme is ran through participating employers, meaning you do not have to pay tax or national insurance on these products – saving you up to 47%! This reduced cost is then simply deducted out of your payslip over 12 or 18 months.
How to apply
Employer code
If your employer has a live scheme, you’ll either be given an employer code to sign up directly through Cycle2Work, or be pointed towards your benefits portal to apply.
Choose your value
Choose your bike and/or accessories online at Halfords or Tredz before applying so you know the total value to apply for.
Sign up
Now that you have your employer code and total value, you’re ready to apply.
Approval
Once your employer has approved your application, you’ll receive a ‘ letter of collection’.
How to Buy
Use your ‘letter of collection’
You can buy your bike and/or accessories in store or online at Electrek
Pay monthly
End of scheme/Ownership
Approval
Once your employer has approved your application, you’ll receive a ‘ letter of collection’.
What could I save ?
The amount you can save is dependent on the tax band you’re in. Use our savings calculator below to see how much you can save.
What is a letter of collection?
- A letter of collection is what you will use to purchase your bike and/or accessories
- Once you have applied and been approved for Cycle2Work, you will receive yours via email
- To redeem at Electrek or Tredz online, choose ‘Cycle Scheme’ as a payment method at checkout and enter your Email of Collection.
- You can also redeem in store by taking your Letter of Collection with you.
- If you’d prefer to redeem your Letter of Collection Electrek , please contact us on 0345 504 64444 or cycle2.work@halfords.co.uk with the name of are store , the value of your letter of collection and your letter of collection number. We will then allocate to Electrek within 24 hours.
