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Cycle To Work Scheme | Employees

Cycle To Work Scheme | Employees Cycle To Work Scheme | Employees

Why choose Tredz for Cycle to Work?

Free online Bike Specialist support

Online Bike Experts 7 days a week

Easy to buy and redeem voucher online

Easy to buy and redeem letter of collection online

UK's widest range of Bikes & E-bikes

UK's widest range of Bikes, E-bikes, and cycling gear

Sale & offer Bikes included

Sale & offer Bikes included

Wide choice of Scheme Providers

Wide choice of Scheme Providers

Free UK home delivery

Free UK home delivery*

Bikes built by Cytech qualified mechanics

Bikes built by Cytech qualified mechanics

365 day returns policy

365 day returns policy

Free 14 day insurance on bikes

Free 14 day insurance on bikes

Free 14 day insurance on bikes

1-2 Days Despatch

Free 14 day insurance on bikes

One-Stop-Shop

How do I get a cycle to work bike?

Getting a new tax free bike and/or cycling equipment is easy if you are a PAYE employee and your company is signed up to a Cycle to Work Scheme. The cost of the bike and/or equipment is taken from your pay before tax which means you save up to 42% depending on your tax bracket. Simply follow the steps below to apply.

Select your products icon Contact Your HR Department

Contact your employer to find out which Cycle to work scheme your company uses and to understand the specific terms and conditions.

Find out:

  1. Which scheme your employer uses
  2. Your Employer Code
  3. How much you can spend on a new bike and/or cycling equipment
  4. If your company isn't currently signed up to a cycle to work scheme you can find out how they can in our Employers Scheme page.

Select your products icon Choose Your Equipment

Choose the bike and/or cycling equipment that you would like to get through the scheme and make a note of the total cost as this is the amount that you will apply for through the cycle to work scheme. Adding the items to your basket on our website is a convenient way to work out the total cost.

Your employer will set a limit to the amount you can apply for. Make sure that the total cost of the items in your basket doesn't exceed your spend limit.

Both bikes, cycling clothing and cycling equipment are available through the Cycle to Work Scheme. Unfortunately, certain items, like GPS computers, turbo trainers, and kids bikes are not available. Here is a list of all the eligible and noneligible items with cycle to work schemes.

Select your products icon Get Your Voucher

Once you know which scheme to use and have decided how much you want to spend you can apply for your cycle to work voucher. The process is slightly different for each scheme.

  • Halfords Cycle 2 Work - Click here to apply
    • Once you have completed the application process you will receive a Halfords LOC (letter of collection). This will provide you with your LOC number which you can use to purchase your order through the checkout.
  • Cyclescheme - Click here to apply
    • After you've completed the application process you will be issued a Cycle Scheme certificate with a redemption code which you can use to make your purchase at the checkout.
  • Other Cycle to Work Scheme providers
    • Contact your HR department to complete the application process.

Select your products icon Redeem Your Voucher at Tredz

Once you have your Cycle to Work voucher simply click 'Add your Cycle to Work Voucher' at checkout.

  • Halfords Cycle to Work - enter your LOC number and surname
  • Cycle Scheme - enter your certificate number and redemption code
  • All other Cycle to Work providers - please email us your signed and dated voucher with details of your order. We will confirm your order and be in touch to arrange delivery
A cycle commuter riding through the city wearing high-vis clothing A cycle commuter riding through the city wearing high-vis clothing

End of the Hire Agreement Options

You have various options at the end of your hire agreement. Taking ownership of the bike and/or cycling equipment is the most popular option. You’re then free to start another Cycle to Work application in line with your employers’ rules and the scheme guidelines.

Extend your hire agreement at zero cost

This enables you to choose an extended rental agreement without any additional charges. Your rental agreement continues without any extra payments. Upon completion of the extended term, typically lasting 4-5 years, ownership will be automatically transferred to you.  

Take ownership of your bike and pay 'fair market value' fee

HMRC fair market values state that employers are required to pay to retain the bike. You might need to cover up to 25% of the bike's value if it exceeds £500 after 12 months.  

Age of Cycle

HMRC Fair Market Value

Original price of bike under £500

Original price of bike over £500

  • 1 year
  • 18%
  • 25%
  • 18 months
  • 16%
  • 21%
  • 2 years
  • 13%
  • 17%
  • 3 years
  • 8%
  • 12%
  • 4 years
  • 3%
  • 7%

 

You can return the bike

This option allows employees to decide the fate of the bike at the end of the salary sacrifice period. This option typically provides flexibility for the employee to choose whether to keep the bike or return it. If the employee decides to return the bike, they may have the option to purchase it at a nominal fee, or the employer may retain ownership of the bike.  






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© Performance Cycling Limited 2024. Tredz is a trading name of Performance Cycling Limited. All Rights Reserved Company No. 03398601 | VAT No: 797 0776 69

† IMPORTANT INFORMATION: Performance Cycling Limited FRN: 720557 trading as Tredz & Tredz Bikes are Authorised and Regulated by the Financial Conduct Authority. We are a credit broker, not a lender – credit is subject to status and affordability, and is provided by a panel of lenders of whom we have a commercial relationship. Terms & Conditions Apply. Performance Cycling Limited trading as Tredz is registered in England and Wales 03398601. Registered office: Icknield Street Drive, Washford West, Redditch, Worcestershire, England, B98 0DE. Performance Cycling Limited trading as Tredz is authorised and regulated by the Financial Conduct Authority. Our registration number is 720557. Credit provided subject to age and status.

Finance is subject to application, financial circumstances and borrowing history. Performance Cycling Limited FRN: 720557 trading as Tredz are authorised and regulated by the Financial Conduct Authority. We are a credit broker not a lender – credit is subject to status and affordability and is provided by Mitsubishi HC Capital UK PLC. Terms & Conditions Apply.

† Novuna Representative Example: If total purchase price is £4,255.52 and your selected term is 36 months 14.9% APR Representative, Annual Interest Rate 14.9% p.a. Fixed with £0 deposit you would pay £145.38 per month. Total amount payable will be £5.233.68 with a cost of credit of £978.16.

† Novuna Buy Now Pay Later Example: If total purchase price is £4,255.52, payment holiday of 12 months and 24 monthly payments at 9.9% APR Representative, Annual Interest Rate 9.9% p.a. Fixed with £0 deposit you would pay £213.02 per month. Amount of Credit £4255.52, Total amount payable will be £5,112.48 with a cost of credit of £856.96. If the loan amount is voluntarily paid in full before the deferral period ends, interest will be waived but an early settlement fee up to £29 will apply.

PayPal Credit is subject to status. Terms and Conditions apply. Performance Cycling Limited acts as a broker and offers credit from PayPal Credit. PayPal Credit is a trading name of PayPal UK Ltd Registered Office: Whittaker House, Whittaker Avenue, Richmond-Upon-Thames, Surrey, United Kingdom, TW9 1EH. † Full Representative Example: Representative 23.9% APR (variable), Purchase interest rate 23.9% p.a. (variable), Assumed credit limit £1,200.00.

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