What exactly is the Cycle To Work scheme?
It's a scheme the government introduced to promote healthier journeys to work.
Why should we offer this?
It's a great deal for your people. If you sign up to the Cycle To Work scheme, your employees can get their hands on a brand new bike and all the safety gear they need and get up to 42%* off the total price.
So what do we need to do?
You can sign up right away from the Benefits Store in bob.
- You decide the maximum amount you are prepared to offer (most companies set this at £1000 since you need a Consumer Credit Licence if you want to offer more).
- You agree to a 'Supplier agreement' with Halfords
How do our people use this?
Once you're signed up, your employees will see this benefit in 'My Benefits' on bob.
There, they'll see a link straight through to the Halfords site where they can choose a new bike and cycle safety accessories so they know how much they want to spend.
Back on bob, they enter the amount and submit the request.
The request will come to the administrator for approval. If you approve, we will automatically advise Halfords and they will issue a 'letter of collection' to the employee. At the end of the month, Halfords will invoice you for the full amount.
In bob this gets set up as an employee loan with payments spread over the period you chose.
You collect the employees payments through payroll before PAYE and National Insurance. You save on NI and the employee gets the new bike they want now at a massive discount and they get to spread the cost. It's rather clever, really.
Sign up today and enjoy
SAVINGS of up to 42%* for your employees on a new bike and cycle safety accessories
ACCESS to the UK's top bike brands from 800+ partner independent bike shops and 470+ Halfords and Cycle Republic stores