Cycle to work
Are you considering a healthier, more sustainable way of travelling? If so, then the University’s cycle2work scheme may be just what you are looking for! We are delighted to announce that there will be an opportunity for you to sign up for the Tax Free Bike Scheme, which will be run in conjunction with our partners Edenred and Cycle2Work.
Edenred are one of the largest employee benefits providers in the UK and provide tax free bike schemes for a number of organisations.
What is a tax free bike (cycle to work) scheme?
The cycle to work scheme is a tax and National Insurance free scheme set up by the Government and the Department for Transport to help promote healthier journeys to work and reduce pollution and congestion.
Cycle2Work is supported by a wide range of specialist bike dealers, catering to everyone regardless of their needs, budget, location or journey to work! This includes: Cycle2work, halfords, cycle republic, tredz and independent bike shops.
What’s more, you can also benefit from regular discount offers at Halfords, Tredz or Cycle Republic – saving you even more on your perfect bike and accessories!
For more information on which stores you can spend your Letter of Collection, visit the bike shop locator tab on the application portal.
How to apply?
Staff will be able to apply online here and register on the Cycle to Work platform.
For detailed Frequently Asked Questions about the scheme please click here.
How does the scheme work?
You will have the opportunity to hire a cycle from University of Exeter, and you can choose a cycle and cycle equipment to the value of between £100 and £3000. There's no automatic entitlement for you to take ownership of the Goods at the end of the hire period. However, you can either enter Cycle to Work’s zero-cost extended hire arrangement or purchase the Goods at the fair market value at that time (plus VAT). Alternatively, you can return the Goods to a Halfords store. However, the circumstances and terms of the disposal of the Goods are not governed by the Hire Agreement, and any arrangements that may be made after the Hire Agreement will be the subject of a separate agreement.
- Find out more about the Cycle to work scheme rules
Cycling is so much more enjoyable with my luxurious new bike, and with 24 gears I can even cycle (part way) up Pennsylvania Road! The Cycle to Work scheme arrangements made the whole process very easy, and as the money is deducted from salary over a year, I didn't have to pay for the bike all at once.
Nicky Britten (Institute of Health Service Research)