Evans Cycles

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Employer FAQ's

 

How do I join the scheme?
You can join Ride2work online here.
 
Who does the equipment belong to?
It belongs to the company / organisation and is hired to the employee for the term of a Hire Agreement.
 
What happens at the end of the scheme?
There are several options open to the employer regarding transferring ownership and allowing ongoing use of the bike. Find out more here.
 
How much will this cost the company?
Nothing! There is no cost to the employer for setting-up Ride2Work. The employer is buying the equipment (a bike and / or cycling safety accessories), then hiring it to the employee over the term of a hire agreement. Hire payments are made via salary sacrifice, usually over 12 months, up to a maximum of 18 months, until the full amount is recovered. You will make a corresponding saving in employers National Insurance Contributions based on the amount of salary sacrifice made by employees participating in the scheme.
 
Does the company need to apply for dispensation from HMRC to provide Ride2Work?
No. We provide all the necessary forms and agreements.
 
Does my organisation need to apply for a credit licence?
No. The cycle to work scheme has a Group Consumer Credit Licence issued by the Office of Fair Trading which means employers are allowed to run salary sacrifice schemes as long as the purchase amount does not exceed £1,000. If you would like to allow your employees to purchase bikes and equipment over this limit then you can do so using your own Consumer Credit Licence, which must include Category B – Consumer Hire. Find out more about getting a CCL here
 
What are the rules regarding maternity leave?
If an employee goes on maternity leave during the salary sacrifice period and their salary falls below NMW the employer has the option to initiate a repayment holiday or to continue with payments. Employers would need to supply the employee with an amendment to the hire agreement for signature. The Office of Fair Trading rules state that if the hire agreement term runs over 18 months the employee has a right to cancel the contract and therefore employers need to keep this in mind when extending the term of the salary sacrifice. Employers are not liable to make the payments while the employee is on maternity leave.
 
I am self employed, can I join the Ride2Work scheme?
You must be paid via PAYE to make the salary sacrifice.
 
Is your company liable?
This is highly unlikely. Read our fact sheet
 
Stolen Bikes and Insurance:
Insurance of the bike and equipment is the employees' responsibility. We recommend Evans Cycles Insurance which is a very competitive and comprehensive insurance policy for cyclists.

If a bike being hired through the scheme is stolen we generally recommend that it can be replaced via insurance for the same or similar product where the employer is happy to accept this. Replacement bikes should continue to be used for the purpose of cycling to work for the remaining duration of the hire agreement.

In cases where the equipment is not insured the employer generally requires the balance of outstanding payments to be made. No Fair Market Value fee is required on stolen cycles.
 
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
Find out more here: www.dft.gov.uk/publications/cycle-to-work-scheme-guidance