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How much can I save?
By availing of the Cycle to Work benefit with Cyclesheme you can either get a pedal bicycle and accessories up to the value of €1,250 or an e-bike and accessories up to the value of €1,500. You don't pay Income Tax, PRSI or USC on the cost of your chosen bike package so can save up to 52% on the retail cost. Use the Cyclescheme Savings Calculator to get an idea of how much you might save! Note: You do not need to enter an employer code.
Your budget
You have entered an employer code for this calculation; the calculator has retrieved specific information about your scheme (eg any finance charges) and applied these to the savings calculation to make sure it's as accurate as possible. However, your final savings may vary, depending on your personal tax circumstances, eg pension contribution, other salary sacrifice schemes or your personal tax allowance.
PLEASE NOTE: the calculator assumes a standard personal tax allowance for a single person of €1650 per annum.
The figures shown below only represent the possible savings under the Cycle to Work scheme, not your actual savings - this is for guidance purposes only.
| Total cost of bike and accessories: |
€ |
| Net cost of bike and accessories, including finance and admin costs (if applicable): |
€ |
| Income tax saving over payment period: |
€ |
| Employee NI saving over payment period: |
€ |
| Employee PRSI saving over payment period: |
€ |
| Employee USC saving over payment period: |
€ |
| Final cost of bike & accessories: |
€ |
| Total saving: |
€ |
| Gross salary sacrifice, based on month payment period (this should be the figure displayed on your salary sacrifice agreement): |
€ |
| Net salary sacrifice, based on month salary sacrifice agreement: |
€ |
| Percentage saving over RRP: |
% |
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