YOU HAVE QUESTIONS?
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WHAT IS THE RIDE TO WORK SCHEME IN IRELAND?
The Ride to Work Scheme in Ireland is a government initiative that allows employees to purchase a bicycle and safety equipment tax-free, up to a certain amount, through their employer. This encourages more people to cycle to work and promotes a healthier lifestyle.
HOW DOES THE RIDE TO WORK SCHEME WORK?
Employers can set up the scheme for their employees, who can then choose a bicycle and safety equipment from a registered retailer, such as CycleCentre. The cost of the bike and equipment is deducted from the employee’s salary before tax, saving them money.
HOW MUCH CAN I SPEND ON A BIKE THROUGH THE RIDE TO WORK SCHEME?
In Ireland, employees can purchase a bicycle and safety equipment up to a maximum value of €1,250 tax-free through the Ride to Work Scheme.
CAN I ONLY USE THE BIKE FOR COMMUTING TO WORK?
While the main purpose of the scheme is to encourage cycling to work, there are no restrictions on how you use the bicycle outside of work hours.
CAN I PARTICIPATE IN THE RIDE TO WORK SCHEME IF MY EMPLOYER DOESN'T OFFER IT?
Unfortunately, the scheme must be set up by employers, so you will need to encourage your employer to implement the Ride to Work Scheme if it is not already in place.
WHAT HAPPENS IF I LEAVE MY JOB AFTER PURCHASING A BIKE THROUGH THE RIDE TO WORK SCHEME?
If you leave your job before the end of the scheme’s payback period (usually 12 or 18 months), you may be required to pay back the outstanding balance on the bike. This will depend on your employer’s specific terms and conditions.
CAN I BUY A SECOND BICYCLE THROUGH THE RIDE TO WORK SCHEME/ CYCLE TO WORK SCHEME?
The scheme only allows for one bike purchase per employee, so you cannot buy a second bicycle tax-free through the same scheme.
