We are delighted to announce that we are now suppliers to The Cycle to Work Scheme. Contact us if you have any queries.
A bit about the scheme This is a tax incentive scheme which aims to encourage employees to cycle to and from work. Under the 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, levies or the Universal Social Charge on their repayments.
Your employer does not have to take part in the scheme. However if they do, they must offer it to all their employees.The scheme covers the purchase of bicycles and equipment up to the value of €1,000 from approved suppliers and you can avail of the bike to work scheme once in a 5 year period.
For more information, please see the Revenue site: http://www.revenue.ie/en/tax/it/leaflets/benefit-in-kind/faqs/cycle-work.html or download the the leaflet below.