| Example savings
Actual savings will depend on each individuals personal circumstances.
Below is a typical example of savings possible as both a Basic Rate taxpayer (20%) and a Higher Rate taxpayer (41%). Public Sector employees will in addition save the pension levy |
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Higher rate taxpayer: 41% Tax + 6% PRSI + 4% Levies = 51%
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| 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 |
€31 |
€41 |
| Basic rate taxpayer: 20% Tax + 6% PRSI + 4% Levies = 30% |
| Cost of bike and accessories |
€250 |
€500 |
€750 |
€1000 |
| Tax relief saving |
30% |
30% |
30% |
30% |
| Tax relief saving |
€75 |
€150 |
€225 |
€300 |
| Net Cost |
€175 |
€350 |
€525 |
€700 |
| Cost split over 12 months |
€15 |
€29 |
€44 |
€58 |
Cycle to Work - Tax Free Bikes
• Save up to 51% of the cost of a bike and accessories.
• Our service is totally free to Employers and Employees
• Any bike from 150 brands through over 150 shops in all counties.
Cycle to Work Scheme
This allows Employers to buy bikes and accessories up to €1000 tax free for their employees and deduct the net cost from their employees’ salaries over 1 to 12 months.
Bike to Work
We are an independent Irish company that facilitates hundreds of Employers to administer the scheme supplying bikes to Employees through a nationwide network of 150 independent Irish bike shops.
Employers
Bike to Work’s provides a One-Stop-Shop for invoicing and support. We will create a Micro-site for you on our Secure Online System.
Your Employees submit quotes directly online and agree to your personalised Terms and Conditions. You are emailed an invoice. On approval and payment, your employee is emailed a voucher code and picks the bike up from the shop.
Employees
Choose any bike from any brand through our network of over 150 independent shops in all counties.
Benefits to the Employee
- Huge savings on bikes and accessories
- Huge Selection of Brands
- Get Fit
- Expert staff - here to help
- Delivery to your door
Benefits to the Employer
- Improve Your Company’s Enviromental Image
- Improving Staff Health, fitness and morale
- Reducing Parking and Congestion Problems
- Savings to be made for everyone!
- Scheme Set-Up and Promotion
