GIRLS GEARING UP TO CYCLE TO WORK

Victoria Pendleton helps celebrates more women joining Cycle2work scheme

Halfords’ Cycle2Work scheme is celebrating its 10th anniversary by announcing a ten per cent increase in customers, and more women signing up.

The significant trend towards women joining the scheme, allows employees to acquire new bikes at up to half price through tax incentives.

Cycling’s golden girl Victoria Pendleton marked the anniversary by joining staff from M&S, one of the most recent companies to sign up to Halfords Cycle2Work.

Picture Caption: From left to right Victoria joins M&S Cycle2workers Joanna Flanagan, Diane Wheatle, Kathryn Tibble-Taylor and Jane Sugden

To date over 550,000 people from 32,000 companies have taken advantage of the scheme since it was launched by the Government to encourage workers to commute by bike.[i]

Halfords, Britain’s biggest bike retailer was the original pioneer of Cycle to Work and is now the UK’s No 1 nationwide scheme provider.

In the past the scheme has appealed more to men, but the tide appears to be turning as now one in four people joining Cycle2work are women. At M&S 42% of employees using the schemer are women while other schemes with a high number of women taking part include Nottingham University Hospitals NHS Trust 50%, and Oxford University Hospitals NHS Trust with 57.5% female participants.

Gary O'Neill, Rewards and Benefits Manager for M&S said: "We want to help make it easier for our employees to live healthier lifestyles and cycle2work enables us does just that.  It’s fast become one of our most popular employee benefits and we hope to see even more people join during this year’s window for sign up."

Halfords Corporate Sales Manager, Charles Ashwell said: “It is extremely encouraging to see a more balanced demand from employees looking to enjoy the benefits of cycle2work.”

Former Olympian Victoria, who has her own exclusive Halfords bike range, said: “It is great that Cycle2work is appealing to more women as I know a lot of people have busy lifestyles and can struggle to find time for exercising. If you can commute by bike then do it – it’s a great way to stay fit and healthy.”  

A study by the umbrella body Cycle To Work Alliance reveals clear benefits of membership for both employers and employees. Around 85% of participants noticed their health improving, 84% of users rate the scheme an important and easy way to keep fit and 97% of businesses see the scheme is an important way to encourage a healthy workforce.

Scheme users are cycling a total of 13,222,620 miles per week and 67% of participants would commute to work by car if they did not cycle there.  These commuters are saving 112,210 tonnes of CO2 in annual reduced carbon emissions.

Halfords website www.cycle2work.info provides a one stop package for companies seeking to sign up, and its scheme is able to supply virtually all bike brands available in the UK through both its own stores and Independent Bike Shop partners.

ENDS             

[i] According to the Cycle2work Alliance

Notes to Editors:

How the Scheme works:

The scheme involves employers buying the bikes chosen by employees who then sign a hire agreement and fund the bikes from their untaxed income in a salary sacrifice arrangement (before tax and National Insurance are deducted). Most higher-rate taxpayers are able to save up to 52 per cent off the normal shop price. Basic-rate taxpayers typically obtain a 42 per cent discount. At the end of the hire period the employee pays an agreed nominal final market-value price for the bike.

A dedicated Halfords team is assigned to each client and companies also have access to a live website which allows them and their employees to track their applications and orders. Customers are also provided with marketing support to help promote the scheme.

Halfords offer extra employee benefits including free bike assembly, a free six week first service, free bike route maps, half price cycle training as well as in store promotions and offers on top of the tax break benefits.

Timeline of Halfords Cycle2work Scheme

1999 - Cycle to Work scheme is a UK Government tax exemption initiative introduced in the Finance Act 1999 to promote healthier journeys to work and to reduce environmental pollution. It allows employers to loan cycles and cyclists' safety equipment to employees as a tax-free benefit. The exemption was one of a series of measures introduced under the Government's Green Transport Plan.

2004: Halfords Cycle2work Development of scheme for 23 for clients including Michelin, Suffolk County Council and LloydsTSB.

2005:126 Cycle2work schemes launched. New participants include E.on, Royal Mail, Suffolk Police and Darlington Council.

2006 – 458 new clients.

2007 – 766 more companies join the scheme.

2008 - 1030 new companies.

• Halfords launched its partnership with independent bike shops giving customers access to all major bike brands including Specialised, Trex and Cannondale.

2009 - 2072 more businesses join the cycle revolution.

• Halfords becomes exclusive retailer to Boardman Performance Series bikes.

2010 – Another 1914 companies join.

• British Olympic Gold medallist, Chris Boardman MBE and Julian Huppert MP, launched the Cycle to Work Alliance at a reception in the House of Commons.
• Over the past decade more 50,000 companies have taken advantage of the scheme.
• On 6 August 2010 HMRC issued a statement to clarify the fair market value, which should be charged if the employees want to take ownership of the bike at the end of the repayment. The full statement including the matrix is available here: http://www.hmrc.gov.uk/manuals/eimanual/eim21667a.htm

2011- 1879 schemes are developed for new members.

• Halfords first Cycle2work programme bringing in £1million plus, was delivered.     
• Cycle to work is the UK’s fastest growing staff benefit,
• HMRC announce treatment of VAT for salary sacrifice schemes has removed the final element of uncertainty about exactly how schemes should operate in future.
• Halfords Cycle2work achieved a perfect 100% score and was recently awarded a national Framework Agreement for the supply of the Governments cycle to work scheme, which is open to all public sector organisations, by the Healthcare Purchasing Consortium (HPC).
• Premium Ebikes now available through Halfords cycle2work.
• The bobby on the bike is making a comeback as police forces ditch their panda cars and get peddling. Increasingly emergency services are answering the call of the cycle. With 95% of police forces nationwide buying them at Halfords.

2012

• Halfords cycle2work establishes its capability to supply all of the UK’s top bike brands through its own stores and nationwide, independent bike shop network.
• Halfords becomes exclusive retailer to Pendleton bikes and a Pinarello stockist.
• Over four out of ten (43%) said they had been inspired by the success of Bradley Wiggins , Mark Cavendish and other British riders to get on a bike, a survey reveals.

2013

• Halfords cycle2work celebrates its 10th anniversary with over 500,000 commuters now cycling to work.
• On the back of rising train fares and fuel prices, figures published by the Cycle to Work highlight a 22.5% increase in take up in the second quarter of 2013, versus same period in 2012, when compared to the same period in 2012. This follows a similarly large 19.3% year-on-year increase for the first quarter of 2013.
• Halfords launches over 20,000 new cycle parts, accessories and clothing at Halfords.com
• M&S signs up and joins the growing number of companies with a high proportion of female employees keen to take advantage of our scheme.
• Boardman Hybrid comp most popular cycle2work bike.

Louise Iles

Email: louise.iles@halfords.co.uk

Tel: 01527 513206

With over 100 years experience of selling cycles, Halfords are the UK's number one bike specialist. At Halfords, we understand that selling a bike is more than providing it in a box. That is why we offer free* bike build at your local Halfords store even if you buy online and have your bike delivered to your door. We'll also fit free of charge any accessories you've bought at the same time as your bike, whether bought online or in store. We also offer a six-week free health check on your bike.

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