Evans Cycles

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Employee FAQ's

 
If you have a question that isn’t covered here please contact Ride2Work
 
How does it work?
 
  • The bike and equipment are leased to you by your employer who will deduct monthly ‘salary sacrifice’ amounts from your gross salary to cover the cost of the equipment.
  • Because the deductions are from gross salary it means you pay less tax and NI, saving you 32%-42% (depending on tax banding) on a bike of your choice and/or safety accessories
  • You can use the bike for either your full journey to/from work or part-journey, e.g. to/from the station. You can also use the bike for leisure cycling.
  • The cost is usually spread over 12 months (or up to 18 months if your employer offers this).
 
What does ‘salary sacrifice’ mean?
 
Salary sacrifice means giving up part of your salary in exchange for a benefit, in this case the hire from your employer of a bicycle and /or cycling safety accessories. Salary sacrifice deductions are taken from your gross salary meaning you pay less tax and NI. This saves a basic tax payer 32% on the cost of the equipment and a higher rate tax payer, 42%.
 
Find out more here
 
What cycling equipment can I get?
 
You can choose any make or model of adult bike and/or cycling accessories.
 
Can I buy cycling accessories only, without getting a bike?
 
Yes, if you are already cycling you can choose accessories only.
 
What accessories can I include?
 
You can include most safety accessories under the scheme, for example:
 
  • Cycle helmet
  • Lights
  • Locks
  • Reflective and hi-viz clothing and accessories
  • Shoes and pedals
  • Pannier bags, backpacks
  • Mudguards
  • Pumps, puncture repair kits, cycle tools
  • Child seats
 
(This list is not exhaustive and any cycle accessories that assist with commuting safely may be included)
 
You cannot purchase non-essential items such as energy products, computers.
Individual components such as wheels, brakes, saddles, chains, handlebars etc cannot be included
 
Is there a minimum and maximum amount?
 
The minimum is £100 and the maximum value you can apply for is £1000.
(Some employers are able to offer a higher maximum limit with a Category B consumer credit license. Please check with your employer or the Ride2Work helpdesk for more information on this)
 
Can I buy equipment which is on sale, special offer or using Price Match?
 
Yes you can - which will give you even better savings!
 
Can I get more than one bike?
 
You can get two bikes, for example, if you cannot take your bike on the train but you need a bike at each end of your journey.
Please note the scheme does not allow you to obtain a bike for someone else.
 
How do I purchase the equipment?
 
Once you’ve decided on the amount to want to spend, you request a Ride2Work Certificate through your employer and sign a hire agreement.
 
Do I need to have chosen a bike before I apply?
 
Not necessarily but you can visit a store or go online to decide how much you’d like to spend on a bike and/or accessories.
Check with your employer for their approval process. If your employer has a credit account with Evans Cycles your certificate will be issued immediately following approval by your employer, and you could get your bike the same day.
 
Depending on your company’s application/approval process there can be a delay between you applying for the scheme and your employer approving your request. The main thing is to decide how much you want to spend on a bike and/or accessories and request this amount.
 
What is my certificate doesn’t equal the exact cost of the equipment?
 
If your certificate value is more than the cost of the equipment, it is not possible to get a refund but you can include more accessories. If your certificate value is less that the cost of the equipment you can add you own money to it.
 
How can I order and collect my equipment?
 
Once you’ve received your Ride2Work Certificate, you must use it within its 3 months validity. You can order the equipment at any Evans Cycles store, online or via our telephone contact centre. You can collect your equipment from any Evans Cycles store using our Click and Collect service or arrange for delivery to your work or home address.
 
I live too far to cycle to work, can I still get a bike on the scheme?
 
You can still get a bike and accessories through Ride2Work if you intend to cycle any part of your journey to/from work. You do not have to keep a mileage log but generally at least 50% of the bike’s usage should be for commuting purposes. You can also use the bike for leisure cycling.
 
Who is responsible for maintaining the bike?
 
It is the employee’s responsibility to maintain the bike. Evans Cycles offers a free bike safety check after 6 weeks and all stores operate a full workshop service
 
Is the bike insured through my employer?
 
No. We strongly recommend that you insure the bike as your employer will still deduct the salary sacrifice payments even if the bike is stolen. Evans Cycles offer a comprehensive cycle insurance policy which can be purchased online here
You can also insure bikes through household insurance and you should advise your insurer that the bike is through the scheme and is the property of your employer.
 
Can I use the scheme to buy a bike for somebody else?
 
No, Ride2Work is for employees only. The Certificate is not transferable.
 
When do I start paying?
Your monthly salary deductions will normally begin in the next pay period after you have joined Ride2Work and signed your hire agreement. Your employer will start the deductions regardless of whether you have taken delivery of the bike or not. The Certificate has a 3 month validity and you should use it within this time.
 
Who does the equipment belong to?
 
The bike and equipment are leased to you by your employer who will deduct monthly ‘salary sacrifice’ amounts from your gross salary to cover the value of the certificate. At the end of this period, your employer may transfer title of the goods or extend the hire agreement for a longer period. Check with your employer to confirm their transfer of ownership policy.
 
I’ve heard there’s a charge of 18% or 25% to buy the bike at the end of the scheme, do I have to pay this?
 
No, not usually. HMRC rules state that if you take ownership of the bike there is a final valuation fee (called Fair Market Value or FMV), but most employers prefer to maximise the benefit by offering either:
 
a) A free extended hire term until the valuation fee is zero. There are no hire costs during the extended term and you continue using the bike free of charge. The extended term can be managed by your employer or by Evans Cycles under the Transfer4You option.
OR
b) To report the valuation fee as a benefit in kind (P11d) meaning that you only pay tax on the valuation fee, rather than the valuation fee itself.
 
For example:

A £400 bike transferred at 12 months would result in a tax adjustment the following year of £14.40 for a basic rate tax payer and £28.80 for a higher rate tax payer.
A £700 bike transferred at 12 months would result in a tax adjustment the following year of £35.00 for a basic rate tax payer and £70.00 for a higher rate tax payer.
Check with your employer which end of scheme option applies or speak to the Ride2Work helpdesk for further advice.
 
What happens if I change my mind?
 
Following receipt of your Ride2Work Certificate, you have a 14 day cooling off period if you change your mind.
 
If I don’t get a bike can I cancel and get a refund?
The Hire Agreement is covered by the Consumer Credit Act and such agreements are not cancellable after a 14 day cooling off period. When you sign the hire agreement, you are agreeing to purchase cycling equipment in exchange for a benefit, i.e. tax/NI savings. It is important therefore that you use your Certificate to select the cycling equipment as part of the agreement with your employer.
 
Can I pay off the balance early or pay over a shorter time?
 
Not usually. The commitment will run for 12 or 18 months depending on the agreement you have with your employer, unless your employer agrees to alter the terms of the agreement.
 
What happens if I’m off work?
 
If you take maternity leave, unpaid leave, holiday or sick leave that takes your monthly salary to below the amount of your salary sacrifice, your employer will suspend your payments until you are earning again. Check with your employer.
 
What happens if I leave my employer?
If you leave your employer before you have completed the salary sacrifice term, any balance remaining must be repaid from your final net salary, i.e. without tax/NI savings. To take ownership of the bike a transfer of ownership process will also apply within the HMRC Fair Market Valuation guidelines– see here for details.
Your employer will be able to advise which transfer option would apply to you.
 
I am self-employed, can I join the Ride2Work scheme?
 
You can only do the scheme if you are paid via PAYE in order for the salary sacrifice deductions to be made.
 
Can I take part in Ride2Work more than once?
 
Unless your employer advises otherwise you can join the Ride2Work scheme again after your salary sacrifice deductions have ended. Generally the salary sacrifice is over 12 months, but it could be up to 18 months. Some employers have specific rules regarding how often you join the scheme so check with your employer if you are not sure.