Article 22 September 2022 On Your Bike – Cycle to Work Window Open On your Bike Save up to 43% on a new bike this September & October through Cycle to Work Our Cycle to Work scheme window is open and will close on Monday 31 October 2022 and you can register for the scheme that saves you between 33.25% – 43.25% on a bike and accessories up to £3,000 (or if you pay via a net deduction, the maximum is £1,000). You pay nothing upfront, the payments are spread and taken from your salary monthly. NEW for Sept 2022! Great news, Cycle to Work is now for everyone, even if you earn close to the National Minimum (or Living) Wage, read on to find out more! It’s easy to apply through Celebration Hub, so you can access all your benefits in one place! Cycling has so many benefits, not just for you, but for the environment. It’s great for losing weight, improving cardiovascular fitness, strength and muscle tone and it’s gentle on your joints. It’s also great for reducing stress and fighting low mood as it releases endorphins, the happy hormone. By cycling to work you give yourself the opportunity to take a different route, to explore around you and enjoy your commute. We’re partnered with Halfords, giving you access to 465 Halfords stores and 860+ local independent retailers. Here’s how it works: Log in to your account at www.celebration-hub.com and click on the Cycle To Work tile.You can apply for the cycle to work scheme if your hourly rate after the deduction is at least £10.55*. See the scheme FAQ’s for more details.Pick your package and apply. You can choose from a bike, a bike and accessories, or just accessories.Only apply if you’re sure you want a loan and remember to request only the amount you need for your chosen bike and accessories. The cut-off date for applications is 31 October 2022, but you do have a two-week ‘cooling off’ window if you change your mind.We’ll review your application to check the deductions don’t take your pay below or close to the National Minimum Wage. If approved, you’ll get a Letter of Collection to exchange for your gear instore or online. Please keep an eye on you spam folder as sometimes the electronic vouchers make their way into there.At the end of your hire agreement, you can choose to own your bike. Halfords Cycle2Work contact you at the end of your scheme to let you know how to do this. Can I apply if I earn close to the National Minimum (or Living) Wage? Yes, you can take part in the scheme if you earn close to the National Minimum (or Living) wage. There are 2 options when considering how to take part in the scheme, Cycle to Work operates as either:. A salary sacrifice arrangement and the Government states that a salary sacrifice arrangement must not reduce a colleague’s cash earnings below the National Minimum (or Living) Wage. Therefore, as an employer, we are required to put processes in place to ensure National Minimum (or Living) wage rates are maintained. This includes us taking into account any other salary sacrifice schemes you are part of and also taking into account any future rate increases within the hire period *.Or, a net pay deduction arrangement, whereby the deduction is taken from your net pay, after the deduction of income tax and national insurance contributions, and any other deductions that have been withheld from your pay (NEW in September 2022). This does mean that you don’t benefit from the tax and national insurance savings, but it spreads the cost out, so helping to make it more affordable. Can I apply if I’m on a Fixed Term Contract? Unfortunately, you can’t take part in the scheme if your contract is due to end before the 12 month hire period finishes. Do you work in the Republic of Ireland? If you work for Mitie Ireland, you can also benefit from Cycle to Work. The scheme lets you obtain a brand-new bike and safety equipment worth up to €1,250 for a regular bike, and up to €1,500 for an electric bike. The cost is deducted from your salary over an agreed time frame (maximum of 6 months) allowing you to make attractive PAYE and PRSI savings. Go to http://mitie.biketowork.ie and follow the instructions below: Choose a bike shop on your company microsite https://mitie.biketowork.ie and get a quote from the bike shop.Return to the company microsite and enter the quote.Complete the Purchase Agreement and forward to HR.We will make a payment and you will receive your voucher by email. Then you can visit the bike shop and collect your bike. *We will review your application to ensure the necessary deductions do not take your pay below or close to the National Minimum Wage or National Living Wage, as applicable. If approved, you’ll be sent a Letter of Collection that you can exchange for your gear instore or online.
