The University of Reading is pleased to offer the Cycle2work Scheme in conjunction with Halfords. This scheme forms part of a package of travel benefits for staff to help spread the costs of commuting to work and to support the University’s sustainability and carbon reduction targets.
Cycling to work is beneficial for your health & fitness, is good for the environment, and you can save money on the cost of a new bike by participating in the scheme. You can choose a bike and accessories up to the value of £2,500 and you can make savings of up to 42%! (For an accurate quote, use the Savings Calculator on www.cycle2work.info/bikes/savings-calculator)
You can choose your new bike and accessories from hundreds of brands in-store, or online, from Halfords, Tredz, or one of the many independent bike shops that participate in the scheme. Halfords are also able to provide advice on bikes, safety and security accessories and maintenance and repair services.
The scheme works through a salary sacrifice arrangement over a 12-month period. At the end of which, Halfords will discuss your options with you.
You can choose a bike and safety/security accessories up to the value of £2,500, through a salary exchange arrangement spreading the cost over a 12-month period. As your gross salary will be reduced by the value of the bike, you will pay less tax and National Insurance, saving you money. Savings are around 32% for basic-rate taxpayers and 42% for higher-rate tax payers. During this period, you will be hiring the bike from Halfords. A number of options will be available to you at the end of the hire period.
You should use the bike mainly for commuting to or from work (approximately 50% of your journeys should be made by bike). This can include cycling between your home and the station if you travel to work by train.
To be eligible to participate in the scheme you must be an employee of the University of Reading and have a current contract of employment. You will not be eligible to participate in the salary exchange arrangement if by doing so would reduce your salary below the National Minimum Wage. However, an alternative arrangement is available to enable you to obtain a bike.
How to join
You can join the scheme at any point throughout the year at: www.cycle2work.info and register using the unique employer code: READINGUNIC2W or call: 0345 504 6444