What is the Bike to Work Scheme?
The bike to work scheme is a tax incentive scheme which aims to encourage employees to cycle to and from work. The Government is trying to encourage commuters to give up the car for shorter journeys.
In Dublin, a city well suited to cycling, only 3-4% of commuters cycle to work. By contrast, in Copenhagen over one third of commuters get to work on the bike. More people cycling to work reduces traffic congestion, improves fitness levels and reduces our carbon dioxide emissions.
Under the scheme employers can pay for bicycles and bicycle equipment for their employees and the employee pays back through a salary sacrifice arrangement of up to 12 months and you can save up to 52% of the retail price of bike and equipment. The employee is not liable for tax, PRSI, levies or the Universal Social Charge on their repayments.
How does it work?
The employee chooses the bicycle and equipment he or she wants and the employer purchases the on his or her behalf. Tax relief is available on purchases up to a maximum value of €1,000.
What sort of equipment is covered by the scheme?
Tax relief is available on a wide range of cycling gear and cycling equipment – pretty much everything you would need. This list includes helmets, lights, locks, bells, mirrors, cycle clips, panniers, luggage carriers & straps, pumps, puncture repair kits, cycle tool kits, reflective clothing and reflectors.
Bike to work in four easy steps
- Come into Little Sport Bikes and choose your bike, clothing and accessories. You can test ride the bike if you would like to.
- We will give you a written quote with the bike, clothing and accessories you have chosen.
- Bring the quote to your employer and they will organise the payment and you can then collect your new bike.
- Request a quote online just accessing the link(…) and we will send you a quote by email.
For more information access this link: Citizens Information – Cycle to Work
Interested in the Bike to Work Scheme?
Complete the Enquiry Form below to get a quote/ receive more information on the scheme.