The Cycle to Work plan has been developed in response to the Department for Transport’s initiative to promote healthier journeys to work and reduce environmental pollution. The plan allows employees, Adobe-paid temporary employees, and interns with a contract of more than 12 months to purchase a bike and eligible equipment—including locks, lights, and helmets—valued from £100 to £5,000 through a 12-month hire agreement, whereby the bike is on loan to you from Cyclescheme.

The purchase is made through a process called salary sacrifice, which allows you to receive vouchers for the purchase, free of both Income Tax and employee National Insurance. In order to qualify for the tax exemption, the bike must be lent to you for the 12-month period of the hire agreement, and you must use the bike mainly for travel between home and your workplace or between one workplace and another. Adobe retains legal ownership of the bike.

Enrolment

To request a voucher, visit a participating bike store, and choose the bike and equipment you want, making note of the cost (including VAT). You can then request a quote from the shop to be used for your voucher. Please note that in some circumstances, stores may charge an administration fee. If so, include this amount in your total voucher value.

Visit My Adobe Benefits to request your voucher:

1. Go to Benefits Selection > Cycle to work > Select.
2. Select the value of the bike and equipment you require. This amount will be your voucher value. Note, the voucher value cannot be altered if you subsequently choose a bike and equipment which costs less than the value of your voucher.
3. Click Add to cart > Checkout > Confirm selection.

A confirmation message should pop up if you’ve successfully submitted your selections.

• Your selection will be processed at payroll cut-off in the month after you made the selection.
• Typically, if you select the benefit in one month, it will show in your payslip the following month, i.e., select in March, see in your payslip in April.
• Cyclescheme will then send you an online hire agreement, which you will need to sign electronically.
• It may take Adobe up to four weeks after the invoice is issued by the vendor to pay the invoice.
• Once invoice is paid, your voucher will be sent to you, so you can collect your bike. Please review this guide for more information on the Sign and Collect redemption process including a step-by-step view.
• Due to the above process, it may take up to 8–10 weeks from the moment you selected the benefit until the voucher is released.

At the end of the hire period, you must make another payment to take ownership of the Cyclescheme package. Without this payment, HMRC would class the agreement as hire purchase (rather than hire), and, as such, the tax exemption would not be available.

Cyclescheme can handle all aspects of end-of-hire administration, free of charge, and deals directly with employees to ensure they achieve the highest level of savings, while also ensuring the scheme is compliant with HMRC guidance.

End-of-hire process

At the end of the 12-month hire period, Cyclescheme offers three simple options: extend, pay, or return. View the Cyclescheme guide for details on the end-of-hire process.

Extend

The employee makes a one-off deposit (of either 3% or 7% of the packages’ original value) and continues to hire the bike (under an extended use agreement with Cyclescheme), free of charge, for an additional 36 months until its market value is at its lowest (either 3% or 7%), at which point, Cyclescheme can transfer ownership to the employee at no further cost.

Pay or return

Employees can also choose to take ownership of the Cyclescheme package by making a payment of either 18% or 25%, depending on the provider, of the original value of the bike package.

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Adobe offers an annual season ticket loan—an interest-free loan that allows you to purchase your season train or Tube pass for a full year. Your payslip will include an advance for the ticket amount that you’ll repay in 12 equal payroll deductions.

Typically, if you select the benefit by the payroll deadline in one month, it will show in your payslip the following month, i.e., select in March, see in your payslip in April.

Eligibility

All UK employees, Adobe-paid temporary employees, and interns with a contract of more than 12 months and who are using public transport to and from work may apply for an annual season ticket loan.

Enrolment

You can apply via My Adobe Benefits (powered by Darwin).

1. Go to Benefits Selection > Annual Season Ticket Loan > select.
2. Enter the amount of the loan required. Make sure you know the exact cost of the ticket you need and the name of the travel company, because you will enter this information in the system.
3. Click Add to cart > Checkout > Confirm selection.
4. A confirmation message should pop up if you’ve successfully submitted your selections.
5. Once you obtain the loan and purchase the ticket, please go back into My Adobe Benefits, and attach the receipt. Proof of ticket purchase needs to be uploaded by the end of the following month.

What happens if I leave Adobe?

If you leave Adobe, you must pay the full remaining balance of your season ticket. If you no longer need your season ticket, you can request a refund from the travel company where you purchased the ticket. They will usually require you to complete a refund form before reimbursing you the outstanding amount, less an administration fee. Please note that each travel company will have their own rules with regard to reimbursement, and you should speak to them directly on their process and terms.

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