About Bike To Work
Cycle to Work Government Scheme is the cheapest way to buy a bike. Introduced in 2009, this tax incentive scheme is designed to encourage more people to get on their bikes and cycle to work!
Are you aware that you can save up to 51% off the price of a new bicycle & accessories up to a maximum cost of €1,000 under a Government Cycle to Work Scheme?
Introduced on 1st January 2009, this tax incentive scheme is designed to encourage more people to get on their bikes and cycle to work!
Cycling is a great form of exercise and by cycling to work, you’ll make sure you stay active and get good exercise everyday without using up any more of your valuable time. Cycling keeps you fit, it’s fast, cheap and reliable – and it’s great for the environment.
How to participate?
Once your employer decides to take part, they simply pay for the bike and equipment of your choice on your behalf, and off you go. Your Employer will inform you how the payment will work exactly, whether they buy the bike outright or it operates under a “salary sacrifice” arrangement, but either way you save on Tax!
It is quick & easy to participate in the scheme. 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.
Benefits for Employee
Save up to 51% on Bikes & Accessories
Employees make a saving of between 31% – 51% depending on tax rate, making it easily the cheapest way to buy a bike.
Cycling is a great form of exercise and by cycling to work you will:
- Feel Happier
- Live Longer
- Travel Cheaper
- Loose weight
- Save the planet
5 Year eligbility
If you availed of the Bike to Work scheme in 2012 or earlier you are eligible to re-apply for the scheme, no matter what month your original application was made.
For more information please feel free to contact me