Cycle to Work Scheme Ireland

 

On 1 January 2009 a new government scheme to encourage people to cycle to work came into force. Cycling keeps you fit, it’s fast, cheap and reliable – and it’s good for the environment.


The new bike scheme covers bicycles and accessories up to a maximum cost of €1,000. The bicycle must be purchased by your employer but the scheme can then operate either with your employer bearing the full cost of the bicycle, or by way of a salary sacrifice agreement (like the existing travel card scheme) in which you pay for it, tax free, over 12 months.


Participating in the bicycle scheme is easy. If your employer decides to take part, they simply buy the bike and equipment on your behalf and off you go. Its is up to you and your employer to decided whether they buy the bike outright for you or whether you pay for it via ‘salary sacrifice’. Either way you save on tax.


The scheme is flexible in its application in that your employer doesn’t have to specifically notify the Revenue Commissioners that you’re availing of the scheme and there are no Government forms to fill out. However, your employer does have to maintain the normal records such as invoices and payment details associated with buying the bike.


Employees make huge savings on a new bike and safety accessories and employers benefit by saving money on PRSI, encouraging a healthier workforce and offering a tangible benefit to staff, which is free to set up.

The purposes of the scheme are to:

  • Encourage more employees to cycle to and from work
  • Lower carbon emissions
  • Reduce traffic congestion
  • Improve health and fitness levels

Read on to find out more information and to see the benefits of joining the P&K Cycles Cycle To Work scheme.

Information for Employers

Cycle to work is a simple initiative introduced by the Irish Government, which supports employers in providing their employees with bikes and safety equipment for cycling to work. We offer a free service to all employers to help take advantage of the tax break.

At P&K Cycles you can purchase a brand new bike and safety equipment up to the value of €1,000 tax free for your employees. Your employees will then participate in a salary sacrifice arrangement over a maximum period of 12 months to pay for the bike and safety accessories. Employees can save up to 51% of the retail price of a bike and safety accessories whilst you also make savings.

Benefits for Employer:

  • Employers PRSI is not payable on the cost of the bike or safety equipment so savings can be made
  • Offer a tangible benefit to staff encouraging staff loyalty
  • Cycle to work can improve your company's competitive advantage as an employer in the market place
  • Employees have a huge range of top brand bikes to choose from and can save up to 51% on the cost of their bike package

What to do Next...

Call Pauline or Keith on 01 4734002 or call in to P&K Cycles, Patrick St, Christchurch, Dublin 8. 

Information for Employees

What is the Cycle to Work Scheme?

Cycle to work is a tax break introduced by the Irish Government to encourage you to cycle to work. Once your employer signs up they can provide you with a new bike and safety accessories.

When your employer signs up to the Scheme with P&K Cycles they can purchase a brand new bike and safety accessories up to the value of €1,000 tax free, on your behalf. You will then be able to participate in a salary sacrifice arrangement over a period of a maximum of 12 months to pay for the bike. You can save up to 51% of the retail price of a bike and equipment and your company will make savings too.

The benefits:

  • Save up to 51% off the retail price of a bike*
  • Free Build and 6 Week First Service for a guaranteed ready-to-ride bike

What You Need to do Next

Get your company onboard - they need to sign up to the scheme before you can join!

To get involved let your employer know that you are interested in joining the scheme and then contact us and we'll do the rest!

Call Pauline or Keith on 01 4734002 or call in to P&K Cycles, Patrick St, Christchurch, Dublin 8.