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Cycle to Work Scheme Ireland

🚴‍♂️Cycle to Work Scheme in Ireland🚴‍♂️💥 💯With our scheme, you can save money on a new bike and accessories, making your commute to work more enjoyable and cost-effective.

Get in touch today 👍 📞Phone: +353 42 933 7159 💯🎉💥 .
DM us for any questions on specification or price #ebikes

Contact us today to find out more and start saving on your cycling commute! 🚲💥

The Government Cycle To Work Scheme For Employees, Self-Employed, Companies in Ireland.

Cycle to work scheme is Ireland government’s initiative to encourage people to ride to work by offering tax-efficient ways to purchase bikes and cycling accessories.

The Cycle to Work Scheme is a tax incentive scheme which aims to encourage employees to cycle to and from work. It was introduced in 2008 by the Government .Under the Cycle To Work 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. The employee is not liable for tax, PRSI or the Universal Social Charge on their repayments.

Ride to Work Scheme

A program designed to encourage employees to commute to work using environmentally friendly modes of transportation, such as cycling or walking. It  provides incentives or benefits to employees who choose these active modes of transportation, promoting a healthier lifestyle.

Cycle to Work Scheme Ireland cyclecentre dundalk

cycle to work scheme ireland 2024

Cycle to Work Scheme Ireland – Everything You Need To Know

Your employer does not have to take part in the scheme. However if they do, they must offer it to all their employees. Self-employed people are not eligible for the government cycle to work scheme (unless they are paying PRSI as an employee in addition to their self-employment).

What Equipment Does The Employee Benefits Cycle To Work Scheme Apply To? 

The Cycle To Work Scheme Ireland applies to new bicycles and pedelecs (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

How Often Can I Use The Cycle To Work Scheme Bikes?

Usually your employer pays the supplier for the bicycle and sets up a ‘salary sacrifice’ arrangement from your salary over an agreed time frame (which cannot be more than 12 months). This generally means that you visit the shop, select the equipment you wish to buy and have the shop invoice your employer directly for the cost. Note that the tax exemption does not apply if you pay for the bicycle and are reimbursed by your employer – they must pay for the bicycle.

The repayment for the bicycle and equipment is then deducted from your gross salary (this means before income tax, PRSI, pension levies or Universal Social Charge are deducted). These deductions can be made weekly, fortnightly or monthly depending on your salary payment arrangement. Your employer can also buy the bicycle on your behalf and not require you to pay for it. In this instance, you will be exempt from benefit-in-kind taxation to a cost of €1,000. If the cost of the bicycle exceeds this amount a benefit-in-kind charge will apply to the balance.

How Often Can I Use The Cycle To Work Scheme Bikes?

You can only avail of the government cycle to work scheme once in a four-year period. This applies even if you do not purchase equipment up to the €1,000 limit. The tax year in which the bicycle or equipment is provided counts as the first year. So, if you used the scheme in 2014 (regardless of the month) you would be entitled to the relief again during 2019 (from January).

How to apply for The Government Cycle To Work Scheme

You must use the bicycle and safety equipment mainly for qualifying journeys. This means the whole or part (for example between home and train station) of a journey between your home and your normal place of work. Employers do not have to monitor this but you will be asked to sign a statement saying that the bicycle is for your own use and will be mainly used for qualifying journeys.

Rates

There is a limit of €1,000 on the amount that can be spent (this includes bicycles, safety equipment and delivery charges). If you spend more than this limit you are liable for a benefit-in-kind income tax charge.You can find out more about the scheme on the Revenue Commissioner’s website.

How to apply for The Government Cycle To Work Scheme

Contact your employer to ask about employee benefits government cycle to work scheme.

Why Choose The Cycle Centre Dundalk, Ireland?

There are several reasons why you should choose The Cycle Centre in Dundalk, Ireland:

1. Experienced Staff: The Cycle Centre has a team of experienced and knowledgeable staff who are passionate about all things cycling. They can offer expert advice and guidance on choosing the right bike for your needs.

2. Wide Range of Bikes: The Cycle Centre offers a wide range of bikes from top brands such as Giant, Cube, and Liv. Whether you’re a casual rider or a competitive racer, they have a bike to suit your needs.

3. Quality Service: The Cycle Centre provides a high level of service to their customers, including bike fitting, servicing, and repairs. Their skilled mechanics can ensure that your bike is in top condition for a smooth and enjoyable ride.

4. Competitive Prices: The Cycle Centre offers competitive prices on their bikes and services, making it a great choice for cyclists on a budget.

5. Local Community: The Cycle Centre is a local, independent bike shop that is actively involved in the cycling community in Dundalk. By supporting them, you are supporting local businesses and helping to grow the cycling community in the area.

Overall, The Cycle Centre is a great choice for anyone looking for high-quality bikes, expert advice, and excellent service in Dundalk, Ireland.

WHAT IS THE CYCLE TO WORK SCHEME?

The Cycle to Work scheme offers several benefits, including cost savings, improved health, reduced carbon emissions, and reduced traffic congestion.
It’s important to note that specific details and eligibility criteria for the scheme may vary depending on the country and employer. Therefore, it’s advisable to check with your employer or government website for precise information related to your situation.


HOW MUCH CAN I SPEND ON A BIKE AND ACCESSORIES THROUGH THE SCHEME?

Cargo bikes CYCLESCHEME | CYCLETOWORK | BIKE2WORK LIMIT VALUE – €3,000.00 E-BIKE CYCLESCHEME | CYCLETOWORK | BIKE2WORK LIMIT VALUE – €1,500.00

 

WHAT IS THE CYCLE TO WORK SCHEME?

The Cycle to Work Scheme is a government-backed initiative that allows employees to purchase a bike and cycling accessories tax-free through their employer. This can help you save money on commuting costs and promote a healthier lifestyle.

HOW DOES THE CYCLE TO WORK SCHEME WORK?

Your employer will set up a salary sacrifice scheme, where you can make monthly payments towards the cost of a bike and cycling accessories. These payments are taken from your pre-tax salary, which can save you money on income tax and National Insurance contributions.

HOW MUCH CAN I SPEND ON A BIKE AND ACCESSORIES THROUGH THE SCHEME?

The maximum amount you can spend through the Cycle to Work Scheme is usually around £1,500 for new ebikes ,£1250 for other bikes, but some employers may have their own limits. You can use this budget to purchase a bike, helmet, lights, locks, and other necessary cycling equipment.

CAN I CHOOSE ANY BIKE AND ACCESSORIES I WANT?

Yes, you can choose any bike and accessories from a participating retailer, as long as they are used for commuting to work. This can include road bikes, mountain bikes, electric bikes, and more.

HOW LONG DOES THE CYCLE TO WORK SCHEME LAST?

The length of the scheme will depend on your employer, but it is typically around 12 months. At the end of the scheme, you may have the option to purchase the bike outright at a fair market value.

DO I NEED INSURANCE FOR THE BIKE?

It is recommended to have insurance for your bike in case of theft or damage. Some employers may offer insurance as part of the scheme, so it’s worth checking with them.

CAN I USE THE BIKE FOR PERSONAL TRIPS?

Yes, you can use the bike for personal trips outside of work hours. The main requirement is that the bike is primarily used for commuting to and from work.

HOW DO I SIGN UP FOR THE CYCLE TO WORK SCHEME?

To sign up for the Cycle to Work Scheme, you will need to speak with your employer or HR department to see if they offer the scheme. They will provide you with details on how to apply and start making payments towards your new bike.

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