What is the Cycle to Work scheme?
The Cycle to Work Scheme is a tax incentive scheme which aims to encourage employees to cycle to and from work. Under the scheme employers can pay for bicycles and bicycle equipment for their employees and the employee pays back through a 'salary sacrifice' arrangement of up to 12 months. The employee is not liable for tax, PRSI or the Universal Social Charge on their repayments.
How do you pay?
As an employee, you must first confirm that your employer accommodates the Cycle-to-Work scheme. Your employer does not have to take part in the scheme. However, if they do, they must offer it to all their employees. You must then agree to a salary sacrifice over a 12 month period. You can only avail of the scheme once every 4 tax years i.e If you used your bike to work in 2020, you can now use it in 2024.
Once you get confirmation, you can start the process by following our instructions below:
What equipment does the scheme cover?
The scheme covers bicycles, e-bikes and cargo / eCargo bikes. Each category band has a price limit i.e €1500 for e-bikes. This includes any additional accessories or safety equipment. If you go above the amount you must pay the remaining amount separately to the scheme.
Accessories / Safety Equipment available under the scheme include the following:
- Helmets
- Bells / Bulb Horns
- Lights (Dynamo Packs)
- Mirrors
- Mudguards / Skirt Guards
- Cycle Clips
- Panniers, Luggage carriers / straps
- Locks / Chains
- Pumps
- Puncture repair kits, cycle tool kits, tubeless setup
- Reflective clothing
Voucher Payment Scheme
When it comes to the Cycle-to-work scheme some companies choose to outsource a 'Voucher Company' or 'Voucher Scheme'. We accept vouchers from the following companies:
- Tax Saver
- Bike to Work Ltd / Travel Hub
- Tax Free Bikes Ltd
- Cyclescheme
Note: As these voucher companies take a percentage cut from the sale, we can't honour sale price or discounts on bikes and products that are bought using the voucher scheme.
