Cycle to Work Scheme 2024

Description

The University of Southampton currently operates a successful cycle to work scheme through the ESPO framework and this contract period is coming to an end in December 2024. The University is looking to re-tender for the supply of a fully serviced HMRC compliant cycle to work scheme. Bike loans will be operated through salary sacrifice arrangements run over 6 or 12 months, with the option to make an 18-month option available upon request of the Reward team. The employee must use the bike to travel, for some part at least, between home and work. Payments are made from employees' gross salary and are made free from income tax and national insurance (NI). The University has circa 6,000 employees and requires a scheme that is easily accessible by all eligible employees. The University currently operates the scheme on an 'always open for applications' basis (as opposed to having fixed application windows) and wish to continue with this arrangement. It is important that the scheme has minimal impact on University staff time and that the application process and receipt of bikes is straightforward and practical for staff.

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