What is the cycle to work scheme Hire Period?
The cycle to work scheme is in the first instance a 'hire scheme'. This means that you get to hire your bike and/or accessories tax efficiently and make a saving (see 'How are cycle to work savings made?' for more information).
This means that the Hire Period is the initial period of hire; it's usually 12 months from when you collect the bike. At the end of the Hire Period, you select an ownership option and that's it... you're done!
Helping hand ✋
Remember, you can only have 1 Hire Agreement at a time. So if you already have a bike in an active Hire Agreement, you'll need to wait until you've finished it before you can reapply.