How to set up and manage a cycle-to-work scheme
Author: Claire Watt
Click on any of the hyperlinks to go to more detailed guidance below.
- Research how many employees would be likely to sign up to a cycle-to-work scheme.
- Check the requirements that need to be met to qualify for tax and national insurance exemptions.
- Where an external provider is to be used, establish clear requirements before choosing a scheme provider.
- Ensure that all the terms and conditions of the scheme are clearly set out in a cycle-to-work hire agreement and that the employee understands the terms of the scheme.
- Be aware of the options available at the end of the loan agreement.
- Review the scheme regularly to ensure that it is meeting the organisational objectives that were set when the scheme was introduced.