Heathrow Airport launch Cycle2Work scheme
15.06.10
Heathrow Airport is promoting an innovative scheme to get staff ditching their cars and cycling to work, in partnership with the UK's largest cycle retailer Halfords. The Cycle2Work scheme, now in its second year, is a government initiative to get employees cycling to work. Eligible BAA staff will be entitled to tax-free benefits to encourage them to get a bike if they sign up before 31 August.
The benefits will cover the hire cost over a year of a new bike and safety accessories from Halfords, from £100 up to the value of £1,000. Any payments will come from the employee's salary before Income Tax and National Insurance contributions are taken out, resulting in a significant saving. In addition, BAA Heathrow will also pass on the VAT saving to staff.
Other advantages of the scheme include free bike maintenance, and when the year is up, staff will be able to pay a small final amount to purchase the bike outright.
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