About the Scheme

The Cycle to Work Scheme with Cyclescheme enables your employees to get 1 bike and selected accessories up to the value of €1,000, Income Tax, PRSI and USC free. Employers also make an Employer PRSI saving on each application. Cyclescheme Ireland can set up or take over your Cycle to Work scheme and provide administration and promotion of the scheme completely Free of Charge.

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Introduction

Welcome to Cyclescheme Ireland, we look after the administration and promotion of thousands of companies Cycle to Work schemes nationwide. We pride ourselves in giving you the best service available with the minimum amount of administration.  Our service is completely free of charge to both employers and employees. We are partnered with hundreds of independent bike stores so our schemes give your employees the best choice of bike and accessory brands and models and employers only have one vendor to deal with.

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How Cyclescheme Works

You register with Cyclescheme Ireland and are given access to our secure online administration system.

We provide you with a marketing suite to promote the scheme and simple application process with your employees.

Employees visit one of our Cyclescheme Partner Bike Stores to get advice on what bike and accessories are suitable for their commute and obtain a quote.

They use Cyclescheme’s online applictaion system (using your own unique company link) to apply for their chosen bike package by entering the details online.  They also digitally sign a Salary Sacrifice Agreement and agree to the terms and condistions of the scheme. 

Once an employee has made their online application you are notified by email and need to simply approve or decline the request.

Cyclescheme will email you an invoice for the bike package as we deal with all payments to our network of Cyclescheme Partner Bike Stores.

As soon as the invoice is paid for, we email a secure Cyclescheme Certifcate (voucher) to the employee.

The employee contacts their chosen Cyclescheme Partner Bike Store to arrange collection of their pre-approved bike package and then redeems their Cyclescheme Certificate 

We will provide you with a Payroll Deduction file detailing all employee deductions.  Salary Sacrifice Deductions should then commence from the employees next salary so that the employee can benefit from their Income Tax, PRSI and USC savings and the employer can recoup the full cost of the bike package and benefit from Employer PRSI savings.

Cyclescheme pays all Cyclescheme Partner Bike Stores - meaning you only have 1 vendor to deal with. 

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VAT on the Invoices

VAT is payable, which means Employers will not be able to claim an input credit in respect of the VAT payable as the bicycles will not be used for the purposes of taxable supplies.

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How to get started

When you're ready, you can click here to register

We will then get you fully set up and send you a marketing suite to promote the scheme, its benefits and the application process with your employees.

We look forward to working with you to provide an engaging Cycle to Work scheme.

Please note that the scheme is available to ROI Taxpayers who are paid through PAYE.  Self-employed workers cannot take part in the scheme.

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Is it a Government Scheme?

Yes. Within the Government’s Finance Bill, there’s a tax-free benefit in kind, which allows employers to provide 1 bicycle and/or safety equipment to employees and directors who wish to use them to cycle to work. The employer buy’s the bicycle and/or safety equipment for the full retail price, and the balance is recovered from a reduction in the employee’s gross salary via a Salary Scrifice Agreement. The salary sacrifice is made prior to Income Tax, PRSI and USC and, as a result, employees pay less of all. Employers also benefit from PRSI contribution savings. The net result? You save money on every bike you process through the scheme.

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