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The Cycle to Work scheme
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This will be a lifestyle change for me
I only collected the bike last week, but I am delighted with it. My intention is to cycle to school and back, every day unless I need the car to go further afield for courses, meetings etc. This will be a lifestyle change for me.
Employee
Is this a Government scheme?
Yes. Within the Government’s Finance Bill, there’s a tax-free benefit in kind which allows employers to provide cycles and safety equipment to employees who wish to use them to cycle to work. The employer buys the bikes and safety accessories at full retail price, then the balance is recovered from a reduction in the employee’s gross salary, minus the tax savings. Employers also benefit from PRSI contribution savings. The net result? You save money on every bike you process through the scheme!
Cyclescheme can also offer highly competitive finance packages from well-known providers if you wish to borrow the money to buy the cycles and safety equipment. Please note that any finance charges will be passed on to the employees making the scheme cost neutral.
What does it cost?
Cyclescheme’s core services are free of charge to employers.
What other benefits does the scheme give?
Savings are great, but that’s not the end of the story. Running a Cycle to Work scheme also offers the tangible benefits of a fitter, more motivated, loyal and more productive workforce:
- Brighter, fitter, more punctual staff
- Enhanced benefits package promotes staff loyalty
- Liberated car parking spaces
- Reduced organisational carbon footprint
Register now!
Get up and running
If you're an employer, you can register for the scheme right here and receive all the info you need to get up and running.
FAQs
All you need to know
Over the last few years we've been asked a lot of questions. Click on the link below to read the Employer FAQs.