Cycle to work scheme
Welcome to Cycle to work scheme, we are here to help you take advantage of the recent Government initiative offering tax free bikes for cycling to work.
Using the Cycle to work scheme, your employer can help you obtain a brand new bike and safety equipment worth up to 1,000 euro. You can use a salary sacrifice arrangement to pay for the bike monthly and that means you can save up to 52% of the retail price of bike and equipment. Your employer also makes savings to encourage them.
What are the benefits to the employee
There are a host of benefits available to employees should their workplace choose to launch a cycle to work scheme, these include:
Huge savings on bikes and accessories
- Employees will qualify for a saving of up to 52% off the retail cost of bikes and accessories. Monthly payments with no finance charges.
- Make your salary go further each month.
- Save on monthly fuel, parking, car and train fare bills.
Huge Selection of Brands
Cycle to work scheme are able to offer employees a huge choice of different brands, these include mountain bikes, hybrids and road bikes to name a few. We can also supply all the necessary accessories and cycling equipment through our network of dealers, to ensure employees are safe when riding to work. Visit our Facebook page to see the latest offers – Click Link – WallsCycles-Facebook
Get Fit
Enjoy the health benefits of commuting to work.
Your Employer saves money too
There are savings to be made for Employers too, PRSI savings, reduced parking problems, savings in parking tax, and a healthier, fitter workforce. We have a full information pack for your employer which will tell them all about how the scheme operates. They can even download it from this site. Our frequently asked questions should cover most queries on the general running of the scheme, and you can use our partner finder to see where your nearest participating shops are.
Example savings* | ||||
---|---|---|---|---|
Higher rate taxpayer: 40% Tax + 7% PRSI + 4% Levies = 51% | ||||
Cost of bike and accessories | €250 | €500 | €750 | €1000 |
Tax relief saving | 51% | 51% | 51% | 51% |
Tax relief saving | €128 | €255 | €383 | €510 |
Net Cost | €123 | €245 | €368 | €490 |
Cost split over 12 months | €10 | €20 | €30 | €40 |
Basic rate taxpayer: 20% Tax + 7% PRSI + 4% Levies = 31% | ||||
---|---|---|---|---|
Cost of bike and accessories | €250 | €500 | €750 | €1000 |
Tax relief saving | 31% | 31% | 31% | 31% |
Tax relief saving | €78 | €155 | €233 | €310 |
Net Cost | €173 | €345 | €518 | €690 |
Cost split over 12 months | €14 | €29 | €43 | €58 |