Cycle To Work - Big Changes For 2015

1. Employee can get a bike for themselves and one for a partner via Cycle to Work.

True

False

The statement is false because an employee can only get a bike for themselves through the Cycle to Work scheme, not for a partner.

Explanation

The statement is false because an employee can only get a bike for themselves through the Cycle to Work scheme, not for a partner.

2. If an employee wants a bike for over £1000 they can pay the rest in cash or via a Net salary deduction.

True

False

Employees cannot pay the rest of the amount for a bike costing over £1000 through a net salary deduction.

Explanation

Employees cannot pay the rest of the amount for a bike costing over £1000 through a net salary deduction.

3. Halfords don't charge employees to extend the hire ensuring employees savings through the scheme are not reduced in any way.This is in contrast to some other scheme providers who require a lump sum payment as a deposit when extending the hireThe typical cost for employees on a bike originally costing over £500 is 7%.

True

False

Halfords offers a scheme where employees can hire bikes without any charge for extending the hire. This ensures that employees can save money through the scheme without any reduction. In contrast, some other scheme providers require a lump sum payment as a deposit when extending the hire, which can reduce the employee's savings. The typical cost for employees on a bike originally costing over £500 is 7%. Therefore, the statement that Halfords doesn't charge employees to extend the hire and ensures their savings are not reduced is true.

Explanation

Halfords offers a scheme where employees can hire bikes without any charge for extending the hire. This ensures that employees can save money through the scheme without any reduction. In contrast, some other scheme providers require a lump sum payment as a deposit when extending the hire, which can reduce the employee's savings. The typical cost for employees on a bike originally costing over £500 is 7%. Therefore, the statement that Halfords doesn't charge employees to extend the hire and ensures their savings are not reduced is true.

4. How many Bike Brands does Halfords stock?

All of them

100's

30 +

Halfords stocks more than 30 bike brands. This indicates that they have a wide range of options available for customers to choose from.

Explanation

Halfords stocks more than 30 bike brands. This indicates that they have a wide range of options available for customers to choose from.

5. If an employee is on NMW what's the most they can expect to
pay for a bike?

£24

£125

£19

£50

If an employee is on the National Minimum Wage (NMW), the most they can expect to pay for a bike is £19. This suggests that there may be some sort of subsidy or assistance available for employees on NMW to purchase a bike at a reduced cost.

Explanation

If an employee is on the National Minimum Wage (NMW), the most they can expect to pay for a bike is £19. This suggests that there may be some sort of subsidy or assistance available for employees on NMW to purchase a bike at a reduced cost.