Bike to Work Ltd offers employers a totally free service to help you take advantage of the Government initiative offering tax free bikes for work.Using the Bike to Work scheme, your company can purchase a brand new bike and safety equipment worth up to €1,000 tax free, for your employees. The purchase can be made in any cycle shop.
Cycle to Work Scheme.
The bike to work scheme covers bicycles and accessories up to €1,000.
Discover the best bikes, at the best price direct to your door. The employer provides the bicycle and/or safety equipment to the employee who agrees to forego or sacrifice part of his or her salary every pay period for a period no longer than 12 months in order to cover the cost of the bike package purchased. Thismeans that someone on the highest rate of tax will save almost half of the costof a new bike and equipment.Your employer does not have to take part in the scheme. Bike to Work Ltd T/A TravelHub brought to you by Hubex.ieMicrosoft is replacing the Internet Explorer browser with Microsoft Edge browser. Employers cycle to Work Scheme. Sign up here 5,000 bikes so far Bike to Work Scheme. Cycling keeps you fit, it’s fast, cheap and … It’s important to note that your employer cannot reimburse you ifyou make the payment.As an employee you can use the scheme once every five years. If you bought a bike in 2016,regardless of the month, you could buy a new bike and avail of the next taxrelief in January 2021.Your employer then sets up salary deductions over an agreed time frame of upto 12 months to recoup the costs. You can use a salary sacrifice arrangement to pay for the bike monthly and that means you can save up to 51% of the retail price of bike and equipment. If you want Cyclescheme to run your Cycle to Work scheme or take over your current scheme please sign up below. There is a limit of €1,000 per bicycle purchased.
Shop mountain, road, triathlon, gravity, urban, fitness, accessories and get expert support buying online. The Cycle to Work Scheme is a tax incentive scheme which aims to encourage employees to cycle to and from work.
Your employees can save up to 52% on a bike and safety accessories by joining the Cycle to Work scheme. The Bike to Work Scheme allows an employer to buy a new bicycle and bicycle safety equipment up to a value of €1,000 for employees. © 2020 Bike to Work - All Rights Reserved. How does the scheme work? Cyclecheme can mangage all the administration for your company scheme Free of Charge. However if they do,they must offer it to all their employees.
These deductions can be made weekly,fortnightly or monthly depending on your salary arrangements.You must sign a written agreement stating that the bike is for your own useand you will use it for what the Revenue Commissioners consider qualifyingjourneys: getting to and from work.The Cycle to Work Scheme (generally known as the Bike to Work Scheme) is atax incentive scheme to encourage employees to cycle to work. Theemployer will then pay the bike shop or supplier for the bike and equipmentdirectly.
Under the schemean employer can pay for a new bicycle (including bicycle accessories) and theemployee then repays the cost in regular installments from their grosssalary.That is acceptable and under the scheme you will not be taxed for benefit inkind if you receive a bike from your employer as long as the cost of the bikeand equipment does not exceed a total of €1,000. Using the Bike to Work scheme, your employer can help you obtain a brand new bike and safety equipment worth up to €1,000.Welcome to Bike To Work, Ireland's number one Cycle to Work scheme provider, helping thousands of Employers to administer the scheme using Ireland's largest nationwide network of over 350 Independent Bike Shops.We are an independent company based in the UK and Ireland, set up to facilitate thousands of Employers to administer the scheme ..There are a host of benefits available to employees should their workplace choose to launch a cycle to work scheme, these include