Cycle To Work FAQ
Cycle to Work schemes can appear confusing, here we've put together a list of common FAQ's to help.
Is the Cycle to Work Scheme Right for Me?
To qualify, you must:
- Be aged 16 or over
- Be paid via PAYE
- Not have your gross salary fall below the National Minimum Wage after deductions
You’re not eligible if you're self-employed (unless you pay yourself through PAYE), unemployed, or paid cash in hand.
Only if you pay yourself through PAYE and your business has a Cycle to Work Scheme in place. If you're a sole trader or don't pay PAYE, you won’t be eligible.
You can use your voucher on bikes and accessories that support commuting, including:
- Road, hybrid, e-bikes, folding and mountain bikes
- Helmets, lights, locks, panniers, bags, pumps, tools
- Clothing, mudguards, reflective gear, child seats
Not eligible:
- GPS computers, action cameras, turbo trainers, car racks, Dryrobes, or children's bikes,
The limit to how much you can spend on Cycle to Work is set by your employer. The amount that you earn may also affect how much you can spend through the scheme. This is because salary sacrifice schemes are not allowed to drop your gross pay below the national minimum wage.
Speak to the HR department in your company to find out how much you can spend.
The amount of money you spend must not be more than the amount of your cycle to work voucher. Unfortunately, you are no longer allowed to top up cycle to work scheme orders with your own money. Of course, you can always buy extra cycling equipment in a separate order.
Yes. Your bike should be used primarily for commuting (at least 51% of the time), but leisure use is absolutely allowed.
Cycle to Work Scheme Reservations
Yes — Tredz offers FREE reservations on in-stock bikes while you wait for your voucher (T&Cs apply). Just speak to our Online Bike Experts via Live Chat or call 01792 799508.
We can hold a bike for up to 30 days. After that, the reservation will be released if your voucher isn’t ready.
We can only reserve bikes that are in stock at Tredz. Pre-order bikes or those in stock only with suppliers can’t be reserved.
Yes — you can reserve two different bikes per order (e.g. two sizes or models), as long as both are for you and you intend to buy both bikes, and the total is covered by your voucher.
No deposit is needed. You just need to confirm you have applied for a Cycle to Work Scheme voucher and intend to complete the order.
If the price drops during your reservation period, we’ll honour the lowest price, so you won’t miss out.
You'll need:
- An idea of your voucher limit, set by your HR team
- Confirmation that you’ve applied for your voucher and (if possible) an ETA for your voucher
Return to our Customer Service team to redeem your voucher and complete your Cycle to Work Scheme order. Please don’t order online, this ensures we keep your reserved items safe.
Yes. You can reserve Cycle to Work Scheme bikes at our Tredz Swansea, Tredz Cardiff, or Giant Store. Ask a team member in-store for help.
Getting Started – Applying for the Cycle to Work Scheme
We accept vouchers from most national schemes including:
We also accept vouchers from in-house schemes run by independent companies. Please contact us to see if we accept vouchers from your organisation’s scheme.
If your organisation hasn't yet set up a bike to work scheme, please speak to your HR department they should be able to set this up for you. Our two most popular providers Halfords Cycle2Work and Cyclescheme provide employer information to make this set-up easy.
How much you save will depend on your own tax status. Generally a basic rate taxpayer will save 28% and a higher rate taxpayer 42%.
Use our Cycle to Work calculator to see how much you can save.
With Cyclescheme and Halfords Cycle2Work there is no need to have a formal quote. All you need to know is the amount that you would like to spend. You can get this by simply adding the items to your basket in the normal way.
If your scheme provider or HR department would like a formal quote we have made this nice and easy with a handy online quote form that only takes a couple of minutes to complete.
Ordering with Your Voucher
Yes, you can use your Cycle to Work voucher on any discounted or nearly new bike as well as eligible accessories.
Yes, price match is available Cycle to Work orders. Terms and conditions apply, see our Price Match policy for more details
You can buy multiple bikes as long as they are all used for commuting and the total basket doesnot exceed the value of your voucher.
No, promotion codes cannot be applied to Cycle to Work Scheme purchases.
Halfords Cycle 2 Work and Cyclescheme vouchers can be redeemed using the regular checkout process, however for other scheme providers please see the individual pages below for more information.
After You Receive Your Bike
Usually, deductions begin in the next available payroll after your voucher is redeemed and your order is complete. Your HR department can confirm exact dates.
For the duration of your hire period it is your employer that owns your bike and equipment. Your employer buys your bike and equipment and leases it to you through an interest-free salary sacrifice scheme. The cost of your items is deducted from your salary as a non-cash benefit, so you can get savings on tax and national insurance.
We highly recommend you insure your bike. If your bike is stolen or damaged beyond repair, you’ll continue to make your monthly payments until it has been paid for. It is your responsibility to insure your cycle to work bike as you are the person who is responsible for it. We offer 14 Days Free Insurance for your new bike – See more information here.
What happens at the end of the Cycle to Work hire agreement?
You can return the bike to your employer
You immediately take ownership of your bike and pay a fee based on ‘fair market value’.
HMRC has set fair market values that employers must pay to keep the bike. So, you may be asked to pay up to 25% of the value of a bike costing more than £500 after 12 months. Please speak to your HR for more information around fair market value.
Extend your hire agreement to 36 months for a single small refundable deposit (3% or 7%).
During your extended hire agreement, you will make no further monthly payments. At the end of the 36 months you can either choose to send your bike back to your Cycle to Work provider (and your deposit will be refunded) or you take ownership of the bike. No further payments are needed.