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Employee Savings

Example savings*
Higher rate taxpayer: 40% Tax + 7% PRSI + 4% Levies = 51%
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 €30 €40
Basic rate taxpayer: 20% Tax + 7% PRSI + 4% Levies = 31%
Cost of bike and accessories €250 €500 €750 €1000
Tax relief saving 31% 31% 31% 31%
Tax relief saving €78 €155 €233 €310
Net Cost €173 €345 €518 €690
Cost split over 12 months €14 €29 €43 €58

*Actual savings will depend on each individuals personal circumstances. Above is a typical example of savings possible as both a Basic Rate taxpayer (20%) and a Higher Rate taxpayer (40%).

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How Much Can I Save

My annual salary before tax

Product Type

Cost of Bike / Ticket

You will save:

This example is based on a single person who has no additional tax credits. The savings you will make may vary depending on your tax credits, reliefs, and exemptions; or if you are a public servant. Please check your payslip to see the marginal tax rate at which you are paying PAYE, PRSI and USC.


Please note that these figure are an approximation and you should confirm them with your employer

Once payment is received by Bike to Work we will email you a voucher code with which you can collect your bike.
 
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