Employers also fully recover the initial cost of the bike, and gain a healthier, happier and more productive workforce too. Simply contact us and well provide you with the help and advice you need to get your scheme set up and running. Bike 2 work scheme limited enables employers and employees to work together to take part in the governments cycle to work scheme. This reduced cost is simply deducted out of your payslip over 12 or 18 months, so no need to worry about large oneoff costs. Jun 18, 20 this scheme was introduced on 1 st january 2009 to encourage employeesdirectors to cycle to and from their place of work and between work places. Otherwise, if youre yet to do so, you can browse our website to find your new bike, clothing, helmet and accessories below. Keen to make your next bike purchase through a cycle bike to work scheme. Use the cyclescheme savings calculator to get an idea of how much you might save.
The government cycle to work scheme is a tax incentive scheme which encourages employees to leave the car at home and cycle to work. Cycle to work scheme carmarthenshire county council. Cycle to work scheme northern ireland cyclescheme belfast. The cycle to work scheme, or as it is better known, the bike to work scheme is a tax incentive initiative which aims to encourage employees to cycle to and from work. Cyclescheme is a provider of cycle to work schemes for irish employers of all sizes.
Find your closest bike shop in ireland here and make an enquiry thanks to irelands cycle bike to work scheme, it has never been easier nor more costeffective to purchase a bike in ireland. Enter your details below to see how much you could save the calculator includes your ownership fee so there will be no additional fees to pay. The cycle to work scheme generally known as the bike to work scheme is a tax incentive scheme to encourage employees to cycle to work. The cycle to work scheme was launched by the government in 2009 to encourage the use of bicycles to travel to and from work. With ride to work, you can get a taxfree bike, which for most people means they save a minimum of 32% of the cost. The faqs below relate to the cycle to work scheme and the taxsaver scheme.
Cycle to work contact department of education and skills. Using the cycle to work scheme, your company can purchase a brand new bike and safety equipment worth up to 1,000 tax free, for your employees. Uccs cycle to work employer bicycle scheme started in september 2009. Bike to work scheme pi cycles, mallow, co cork, ireland. Hse dublin north east hse dublin mid leinster hse west hse.
The cycle to work scheme allows you to purchase new bicycles and safety equipment for your employees. Enter some details below to get a rough estimate for how much you could save. I used the cycle to work scheme to get a bike in 2008. 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. However, if youre entitled to any discount then that can be deducted from our instore prices first. Bikes4work from one4all is a staff benefit that allows employers and employees to take advantage of the government cycle to work scheme, offering taxfree bikes and equipment up to the value of. Cyclebike have been the exclusive cycle to work scheme provider for companies such as ikea, bord na mona and kpmg. If your salary is paid to you within a scottish jurisdiction then your savings may be different from workers in england and northern ireland.
Cycle to work government scheme is the cheapest way to buy a bike. Find your closest bike shop in ireland here and make an enquiry thanks to irelands cyclebike to work scheme, it has never been easier nor more costeffective to purchase a bike in ireland. Bike shop only application cycle to work scheme ireland. Tax free bikes for work through the governments finance bill. Cyclescheme cycle to work employer benefits calculator. All details in relation to the cycle to work scheme are outlined in circular 00662017. Under the governments cycle to work scheme, bicycles and safety equipment up to the value of can be. First, the company signs up with bikes4work to offer its staff access to irelands widest selection of retailers. The way the scheme works is your employer buys the bike and equipment, then leases it to you through an interestfree salary sacrifice scheme. Use the cycle to work benefits calculator to estimate what your business or organisation could save with cyclescheme. Its been seven years since the bike to work scheme launched, promising to revolutionise irelands commuter traffic by incentivising cycling to work offering tax breaks for employees and employers who purchased bikes, obviously with the intention of cycling to work on them for some savvy employees, they might be on bike number two you can apply once in every fiveyear but for. Cyclescheme ireland enables companies of all sizes to provide an engaging cycle to work scheme for their employees. Cycle superstore are bt irelands biketo work scheme partner, providing a wide choice of bikes and accessories for all the bt staff who avail of the scheme. In general, benefits that you receive from your employer are taxable.
Introduced in 2009, this tax incentive scheme is designed to encourage more people to get on their bikes and cycle to work. Cycle superstore regularly visit our offices to provide demonstrations, showcasing a varied selection of new bikes on display. The cycle to work initiative gives you the opportunity to sacrifice part of your salary in return for one bicycle andor allowable safety equipment, which should be used primarily for part or all journeys tofrom work. Having read james leahys letter june 22 on the subject of the cycle to work scheme, i used the savings calculator of a wellknown cycle sales store to calculate the savings available to a. The scheme allows for a civil or public service employer to incur the expense of providing an officer with a bicycle and bicycle safety equipment up to a limit of 1,000, without the officer being liable for benefitinkind taxation. The cycle to work scheme is a tax incentive scheme which aims to encourage employees to cycle to and from 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. Legacy of a tax scheme that really paid off the incentive means bicycles and accessories can often be bought for half the cost. Send completed cycle to work application form approved by hr, together with supplier quotation to the purchasing office. Under this scheme an employer is allowed to incur the expense of providing an employee with a new bicycle and bicycle safety equipment without the employee being liable for benefitinkind taxation. Does paying scottish or welsh income tax affect my cycle. The irish bicycle business association ibba today launched its first report on the cycle to work scheme which was introduced in 2009. The reasons for this tax incentive are to reduce carbon emissions and traffic congestion as well as to improve general health and fitness.
Cycle to work scheme hse staff benefits and services a government scheme to encourage people to cycle to work came into force on january 1 st 2009. Using the bike to work scheme, your employer can help you obtain a brand new bike and safety equipment worth up to 1,000. Keen to make your next bike purchase through a cyclebike to work scheme. Use the cycle to work benefits calculator to estimate what. By using the cyclescheme cycle to work benefits calculator you can calculate your companys potential financial and environmental savings along with your employees potential financial and health benefits. Here at the bike institute we offer further discounts for organisations who want to partnership with our store. The cycle to work scheme was introduced in january 2009 to encourage people to cycle to work. Savings may vary due to your personal taxation and any cost incurred by your. To support efforts to contain the spread of covid19 virus, new applications for the cycle to work scheme are not being accepted until further notice. To run this scheme, we are partnering with bike to work ltd, an independent irish company that. With the cycle to work scheme everyone wins employees make big savings on new bicycles and accessories and employers save money on prsi and get a healthier and more productive staff. Now if i use the evans ride to work calculator and enter.
No commission sales through the cycle to work scheme this listing is free from cycletowork. Is an independent company set up by iain cameron and james leahy in 2008 to facilitate employers to set up the cycle to work scheme. With rideto work, you can get a taxfree bike, which for most people means they save a minimum of 32% of the cost. Thanks to the governments tax relief scheme, employees can save income tax and prsi on the purchase of a bicycle and related safety equipment, when they buy it through their employer and the price is deducted from their salaries over a maximum of 12 months. Items purchased under the scheme are not a taxable benefitinkind bik. Most taxable employer benefits are added to your pay and taxed in the same way. Not only does it show respect for the environment but enables those who wish to cycle to work access to a taxfree bene. Bike scheme benefits the sellers mostly independent. Examples include company cars, loans, medical insurance premiums and childcare facilities. The scheme is run via a salary sacrifice meaning you wont pay tax or national insurance this can save you up to 42% on your new bike and accessories. All the most common questions answered, and a few less common ones too. Irelands city bike and cycle to work scheme, and free cycle planner which caters.
This is a government scheme and details are available on citizens information and revenue websites. Jun 24, 2012 the cycle to work scheme was introduced in the budget by the green party in 2008 and came into effect on january 1, 2009. The cycle to work scheme is a government initiative to encourage alternative travel and reduce environmental pollution. You can use a salary sacrifice arrangement to save up to 51% of the retail price of bike and equipment. Discounts available these are subject to terms and conditions.
By availing of the cycle to work benefit with cyclesheme you can get 1 bike andor selected safety equipment up to the value of 1,000. Oct 05, 2011 i was struck by the amount of press coverage of the cycle to work scheme c2w. The cycle to work scheme is a very popular way of buying a new bike or equipment. If so, you need to click on the link in the email they sent you for full details of the scheme. Under the scheme, employers can pay for bicycles and equipment for their employees and the employee pays back through a salary sacrifice arrangement of up to 12 months. Welcome to bike to work, irelands number one cycle to work scheme provider, helping thousands of employers to administer the scheme using irelands largest nationwide network of over 350 independent bike shops. Cycle to work faqs department of education and skills. The report underlines the many successes of the scheme, with more people than ever now cycling to work.
Does paying scottish or welsh income tax affect my cycle to work scheme savings. The cycle to work scheme is a government tax exemption initiative brought in to promote cycling as a healthier option for commuting to work and reduce environmental pollution. The government has recently updated the cycle to work scheme to encourage more people to commute to work by bike. The universitys cycle to work scheme procedure and application form is available on the human resources website. The scheme works by allowing an employer to loan a bike plus some accessories, lights, helmets etc to their employees as a tax free benefit. Irish bicycle business associations launches report on cycle to work scheme. Office of government procurement cycletowork scheme. Cycle to work the bike institute bike to work today.
See an example of what you could save on the cycle to work scheme by using our online calculator. The cycle to work scheme is a uk government initiative. Dec 20, 2016 strictly speaking, you dont even have to use it for work. Cycle helmets which conform to european standard en 1078.
Complete the application form and return along with any requested supporting documentation it to the appropriate payroll section i. Are you a company or organisation that want to introduce your staff to the cycle to work scheme. Download our partner store brochure or for more info, or. This means the benefits of the scheme are now even better for both employees and employers. Use our advanced calculator to see how much you could save on a new bike. The scheme is a council run initiative that has purchased over 300 bicycles to date. Home cyclescheme calculator now you know how it works, and you know what you can save. Under the scheme your employer can buy a bicycle and safety equipment for you. Despite the name non work use is allowed without triggering a tax charge. Cyclescheme savings can vary but the great news is that our calculator offers very accurate savings forecasts. The cycle to work scheme is a tax incentive scheme which aims to encourage.
Under the scheme an employer can pay for a new bicycle including bicycle accessories and the employee then repays. Cycle to work scheme hse staff benefits and services. It enables staff to hire a bike andor approved accessories for a 12month period with an option to buy outright at the end of the term. Under the cycle to work scheme employerprovided bicycles can be a good tax and nifree benefit in kind for directors and employees. The irish bicycle business association ibba, which seems to have no website launched a report which cannot be found online praising the virtues of c2w.
Ireland, set up to facilitate thousands of employers to administer the scheme. Cyclescheme ireland are partnered with hundreds of bike stores nationwide giving you the best choice of bike and accessory brands and models. Weve summarised some of the main points below and weve also produced a comprehensive guide to the changes that you can download below. How the cycle to work scheme works cycle solutions. Cost is spread over weeklymonthly interest free payments.
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. I was struck by the amount of press coverage of the cycle to work scheme c2w. Cycle to work scheme northern ireland home facebook. In this employees section you can estimate the savings you could make on a bike or and find answers to frequently asked questions. The cycle to work scheme is a tax exemption initiative aimed at promoting healthier journeys to work. Please select from the links below to get further information about the scheme in your area. Halfords are proud to be able to offer a benefit to employees who work within roi to make sure they can take advantage of fantastic savings through the halfords cycle2work scheme fully in line with irish rules and regulations. Your employers cycle to work scheme will have a limit. This scheme aims to encourage you to cycle to and from work. Public health agency guidance shows that 30 minutes of moderate exercise five times a week cuts the risk of developing serious illnesses by up to half. Provision of bicycles and associated safety equipment by employers to directors and employees keywords. It applies to bicycles, pedelecs electrically assisted bikes and cycling accessories up to a maximum cost of. This scheme was introduced on 1 st january 2009 to encourage employeesdirectors to cycle to and from their place of work and between work places. Halfords are proud to be able to offer a benefit to employees who work within roi to make sure they can take advantage of fantastic savings through the halfords cycle2work scheme fully in line with irish.
Under the scheme, a bicycle is purchased directly by the employer and claimed as a taxexempt benefitinkind. Thats the purpose of the scheme the bike must be used by the employee for qualifying journeys. The bike to work scheme is aimed at employees under irish tax system. Cycling and walking in workplace travel planning the health benefits of walking or cycling to work are proven. Cyclescheme ireland local business dublin, ireland. Download our partner store brochure or for more info, or contact us. Under the scheme employers can pay for bicycles and bicycle equipment for their employees and the employee pays back through a. All you have to do is choose which cyclescheme partner store you wish to use and get a quote for your bike and accessories then make your online application. The cycle to work scheme allows the company to buy bikes and accessories up to 1,000 tax free for their employees and deduct the net cost from their employees salaries over 12 months. You dont pay income tax, prsi or usc on the cost of your chosen bike package so can save up to 52% on the retail cost.
You can use a salary sacrifice arrangement to allow your employees to pay for the bike over an agreed amount of time up to 12 months. Additional incomes information about tax on income such as benefits in kind, shares, social welfare payments, and nixers. Primary teachers, post primary teachers or nonteaching staff payrolls section, department of education and skills. Using the bike to work scheme, your employer can help you obtain a brand. Cycle to work tax free bikes save up to 51% of the cost of a bike and accesories. Cycle to work scheme hse staff benefits and services hse. Get started today and save up to 42% off a new bike.
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