Any applications made prior to migrating to the SmartPay version of RG Cycle to Work will still need to be managed directly with Halfords. In this process:
- Client will be notified when employees are reaching the end of their hire period via email.
- Client should login to Reward Manager to download a list of employees who are at the end of their hire period: Reward Manager > Cycle to Work > Administer > Payroll > View > End of Hire
3. Export applications and send to Halfords so they know who to contact
4. The client will then raise an invoice to send to Halfords for £1 plus VAT – one for each employee on this list.
5. Halfords take ownership of the bike and will contact the employees with 3 options:
- Managed Extended Hire agreement with Halfords. Although still part of a hire agreement, there is no further cost or payment required from the employees. Choosing this method means no extra tax needs to be paid.
- Employees can return the bike to Halfords and it will be donated to charity.
- They can take ownership of the bike for 18% or 25% of the cost – this is roughly the amount the client will save with the first option!
Any applications made using SmartPay: RG Cycle to Work will be managed by the client using Reward Manager. Find out the details of this process in Transfer of Ownership: Managed Extended Hire (SmartPay)