Save Up To 51% With The Cycle To Work Scheme
The Cycle to Work initiative, introduced in 2009, is a government scheme designed to encourage more people to cycle to and from work. It enables employees to purchase a brand new bike and accessories tax-free through their employers. The cost of the bike and accessories are then recouped through a salary sacrifice arrangement over a period that can range from 1-12 months. Depending on an individual’s personal tax band, this could allow the employee to save between 31% and 51% of the cost. The amount of the purchase is capped at €1250 for push bikes and €1500 for E-bikes.
What Is Included?
The bike to work scheme applies to new bicycles and electrically assisted bicycles which require some effort from the cyclist It does not cover motorbikes, scooters or mopeds.
Purchase of the following new safety equipment is also covered:
- Cycle helmets which conform to European standard EN 1078
- Bells and bulb horns
- Lights, including dynamo packs
- Mirrors and mudguards to ensure that the rider’s visibility is not impaired
- Cycle clips and dress guards
- Panniers, luggage carriers and straps to allow luggage to be safely carried
- Locks and chains to ensure cycle can be safely secured
- Pumps, puncture repair kits, cycle tool kits and tyre sealant to allow for minor repairs
- Reflective clothing along with white front reflectors and spoke reflectors
- Save up to 51% off the cost of a new bike and accessories depending on your personal tax bracket.
- Cycling represents a cheap, fast and reliable mode of transportation with no tax, NCT or fuel costs to deal with.
- Cycling to work keeps you fit and active.
- Cycling helps you sleep more deeply, boost fitness levels, increase brain power and fight off any infections and illnesses.
Employers Benefit Too!
- Savings of 10.75% in Employer PRSI.
- Benefit from a greener corporate image and a healthier and happier workforce.
- Employees who cycle regularly tend to be fitter and healthier than non-cyclists leading to greater productivity and less absenteeism.
- With no traffic jams to worry about employees who cycle to work will invariably be more punctual and will arrive at work alert done their daily exercise en route.
How Often Can I Apply?
Employees can apply for a bike and accessories once every 4 years. If any employees have already availed of the Cycle to Work from 2009 -2018 they are now eligible to re-apply for the scheme, irrespective of what month the original application was made.
How Do I Apply?
There are just a few simple steps to follow:
- Browse our range in-store or online and choose your bike.
- Get your bicycle quotation from us.
- We will hold your selected bike and accessories with a refundable deposit, while you give the quotation to your employer.
- They will then issue payment (generally bank transfer, cheque, etc).
- Call our shop to arrange collection
- Enjoy your new bike!