32% saving can be made when any Letter of Collection is selected assuming the employer funds the scheme and assumes 20% Tax Rate and 12% NIC Rate. 42% saving assumes 40% Tax Rate and 2% NIC Rate. Insurance rates correct at time of publication and may be subject to change. Savings dependent upon circumstances of the employer and those of the employee.
This agreement regulates your participation in the Cycle2work Agreement ("Cycle2work Agreement"), which has been implemented by Halfords Limited ("Halfords") for your Employer. The purpose of the Cycle2work Agreement is to provide you with a bicycle for commuting and private use. Cycle2work takes advantage of a tax and NI exemption that offers benefits to employees. This agreement, (hereafter referred to as "the Hire Agreement") forms your salary sacrifice and hire agreement.
By entering into this Hire Agreement you have agreed to enter into a salary sacrifice agreement for a minimum period as stated by your Employer. Under the Hire Agreement, you will be provided with the use of a bicycle of your choice and (if you choose) safety equipment to meet your specific commuting and private needs (hereafter referred to as your "Selection"). The Selection will be supplied to you for a minimum period. The value you select as your letter of collection, determines the amount by which your gross salary is reduced.
By entering into this Hire Agreement you are confirming that:
The Selection will be provided by Halfords. Whilst participating in the Hire Agreement, the Selection remains the property of your Employer (or their nominated agents) and you may not profit from, transfer, sell or otherwise dispose of the Selection. You may not obtain a Selection for any purpose other than your own commuting and private use.
On entering into this Hire Agreement you will be provided with a Letter of Collection ("LoC"). The LoC is the mechanism by which you can obtain the Selection from any Halfords store. The LoC is not redeemable for any other purpose, and may not be redeemed by any other person with or without authority. The LoC will be issued for a specific fixed monetary value. By entering into the Hire Agreement, you are confirming your wish to participate in the Hire Agreement, and once the LoC is issued it cannot be returned nor its value altered. The LoC must be redeemed within four calendar months of its issue. Halfords and your Employer reserve the right to change the values of LoC on offer during the life of the Cycle2work Agreement.
Should the value of the bicycle and safety equipment chosen be less than the value of the LoC issued no reimbursement of the difference will take place. Bicycle and safety equipment may be obtained to a value up to the LOC.
The Selection may be disposed of at the end of the term of this Hire Agreement for a sum, equating to fair market value at that time (plus VAT). The circumstances and terms of the disposal of the Selection are neither governed nor influenced by this Hire Agreement in any way whatsoever. Any arrangements that may be made regarding disposal of the Selection will be the subject of a separate agreement.
By entering into the Hire Agreement you agree and accept that your current gross salary will reduce by the Monthly Gross Salary Sacrificed Amount and in return for consenting to this reduction you will receive an LoC for the value you have chosen.
By accepting the Hire Agreement you acknowledge that the salary reduction will remain in place for the hire term and will commence on the first salary payment after signing the agreement. At the end of this period your salary will revert to its original level, (subject to any adjustments that have occurred e.g pay rises, promotions).
If you are absent from work during the period covered by the Hire Agreement your salary reduction will remain in place and will apply to any pay received (e/g sick pay or maternity pay). By entering into this Hire Agreement you also agree that the amount of the monthly salary reduction may be deducted from any such payments.
If you are temporarily not in receipt of salary payments for any reason but remain an employee your Hire Agreement will remain in place and be extended until the earliest of the following events:
The Cycle2work agreement is a fixed term agreement. However if you leave employment you will no longer be able to benefit from the tax exemption under the Cycle2work Agreement.
Therefore if your employment ceases for any reason during the hire period you will be required to pay a termination fee to your Employer. The termination fee will not exceed a value equal to the outstanding salary reductions. The termination fee will be collected by your Employer from any remaining net salary payments. Should this not be possible for any reason, or the outstanding liabilities exceed any remaining net salary repayments, your Employer will require settlement of any outstanding liabilities within 14 days of your employment ceasing.
Cycle2work is governed by HM Revenue & Customs and is open to all employees.
Halfords and your Employer reserve the right to decline a request to issue an LoC and participate in the Hire Agreement. Participation will not be unreasonably withheld. Each request for an LoC will be subject to authorisation by your Employer, and Halfords will only process orders suitably authorised by your Employer.
Subject to Brand stipulations you may collect your Selection from any Halfords store on presentation of the LoC and a suitable form of identification. Acceptable forms of identification are:
Your Employer and Halfords are not responsible for any damage or loss occurring after you have accepted collection of the Selection.
Alternatively if the Selection is from the Halfords store range you may have the Selection delivered to you. Such deliveries will be made at a cost of £14 (INC VAT) or the Euro equivalent, which you must pay directly to Halfords and does not form part of this Hire Agreement. Halfords is solely responsible for the delivery of the Selection, and you are responsible for the acceptance of the Selection.
The Selection is your responsibility for the duration of the Hire Agreement. It is your responsibility to ensure the bicycle and/or safety equipment is/are used safely in accordance with the operating instructions provided by the manufacturer(s). Should any bicycle or piece of bicycle safety equipment be lost or suffer accidental damage or become inoperable you will be required to continue meeting your financial responsibilities for the remainder of the hire period. Replacement bicycles or bicycle safety equipment may be purchased from Halfords. Any replacement bicycles or bicycle safety equipment fall outside the terms of this Hire Agreement.
If the Selection is not mainly used for commuting by you, the Selection will not be covered by the tax exemption. Accordingly, you acknowledge and agree that in such circumstances your Employer may in its sole discretion or where required to do so by any Tax Authority, Court of Law, Tribunal or otherwise declare the Selection as a taxable benefit in kind.
You solely bear the entire risk of loss, theft, damage to, or any loss or destruction of the Selection. Any loss will not affect the continuation in force of the Hire Agreement. It is therefore recommended you obtain separate insurance for your Selection, or ensure your Selection is covered by your Home contents insurance policy. If the Selection is covered by your Home contents insurer, you must inform your insurer that your Employer (or their nominated agents) has an interest in the Selection.
Any insurance cover obtained does not form part of this Hire Agreement. Your Employer does not take any responsibility for any insurance cover obtained.
This does not impact on any warranties offered by the bicycle or bicycle safety equipment manufacturer(s). Except as required by law, neither your Employer nor Halfords offer any separate warranty, and you are responsible for reading and understanding the manufacturer's warranty and complying with its terms.
You hereby authorise your Employer and Halfords to use and exchange with their suppliers or nominated agents the information you provide about yourself (“personal data”) to administer the Cycle2work Agreement. This personal data will be used for the following purposes:
Your personal data will be properly safeguarded and used confidentially.
Under no circumstances shall your Employer, or their suppliers be liable for any indirect, punitive, incidental, special or consequential damages (including without limitation damages for loss of use, lost data, economic loss, or other loss) arising out of a breach of this Hire Agreement or any other action or failure to act, even if your Employer or Halfords have been advised of the possibility of such damages.
Your Employer, Halfords and their suppliers and their nominated agents shall not be held liable for failure to supply, failure to deliver on an agreed time or day, or late delivery. Nothing in the Hire Agreement shall limit the liability of your Employer, Halfords and their suppliers for death or personal injury resulting from their negligence and/or breach of such implied terms as might exist in law relating to title, satisfactory quality or fitness for purpose.
This Hire Agreement is governed by English law. Your Employer, Halfords, their nominated agents and you hereby submit to the jurisdiction of the English courts to settle any dispute arising under or in connection with this Hire Agreement.
If you default on your obligations under this Hire Agreement you must pay your Employer any reasonable legal, administrative and any other costs or expenses that your Employer incur in enforcing their rights under this Hire Agreement.
For the purpose of this Hire Agreement, the terms set out below have the following meanings:
If you'd rather leave the maintenance and repair of your bike to someone else, check out our Halfords Adult Bike Care Plan! This handy plan includes everything you need to keep your bike in tip-top condition and to keep you cycling.
The Silver Service includes the following:
*Does not include: hydraulic disc brake service, basic fork service, comprehensive fork service or comprehensive shock service.
See the Terms and Conditions ( Bike Care Plans).
This voucher entitles you to 20% off the in-store price of all adult and kids Apollo bikes. Exclusive offer available to Cycle2work customers only. Valid during initial period of hire. The voucher can only be redeemed once, per customer in UK stores only. It cannot be used in conjunction with any other offer, voucher, colleague discount, Letter of Collection or exchanged for cash. Excludes online use. Photocopies not accepted. Halfords Ltd, B98 0DE.
This card entitles the person named above to 20% off cycle parts and accessories* in any Halfords shop when presented with proof of signature. This offer cannot be used in conjunction with a Cycle2work Letter of Collection. *Excludes cycle GPS and action cameras
Card not valid for online purchases. Card non transferable. Card remains the property of Halfords, promoter reserves the right to withdraw or amend the terms and conditions due to circumstances beyond its reasonable control. Promoter: Halfords Ltd, B98 0DE For any queries relating to this offer, contact Halfords Cycle2work on: 0345 504 6444