Cycle to Work Scheme in Ashford and Folkestone, Kent
We offer the ability to purchase a new bike under a number of Cycle to Work schemes including Halfords Cycle2Work, Green Commute Initiative, Cyclescheme, Bike2Work, Bikes for Staff, Cycle Solutions, and NHS.
Cycle to Work is a government initiative to enable an employee to hire a bike and safety equipment from their employer as a tax-free benefit. The cost is deducted from gross salary over a 12 month period to enable a saving of 25-39%.
How the process works
1. Find out if your employer is registered with a Cycle to Work scheme.
2. Choose a bike and safety equipment (helmet, shoes, pump, lock, mudguards, etc) from Activ Cycles and obtain a quotation from us.
3. Apply for a Cycle to Work voucher and once approved, redeem the voucher with us in exchange for the bike and safety equipment. The voucher must fully cover the cost and cannot be topped up.
4. Via salary sacrifice, your employer will recover the cost from your gross salary over a 12 month period, enabling you to save the tax.
5. At the end of the 12 month hire period, your employer will have a policy that typically offers 3 options: a. return the bike and equipment; b. allow the employee to purchase the bike at “fair market value”; or c. allow continued use of the bike for a further 3 years at no charge. At the end of this period, the bike is deemed to have little to no value and ownership is transferred to the employee. The last option is the one normally taken.