Ride To Work Scheme In Ireland
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Ride To Work | Bike To Work Scheme (Dundalk, Newry, Dublin and North East of Ireland)
At the Cycle Centre we offer a range of bikes on the government’s Ride to Work / Bike to Work scheme. The Bike To Work schemes is offered by many providers. To get the ball rolling simply click on our Ride to Work button, located at the bottom of each bike featured on our website. We will issue a no-obligation quote which you can submit to your payroll/accounts payable area should you wish to proceed.
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Bike To Work Scheme for The Employer
There are many benefits of the Bike to work scheme from an employer’s perspective. Beyond the obvious green credentials of the Cycle Scheme, employers can ensure their employees receive tax relief on a proportion of their salary designated under the Bike To Work Scheme. The purchase price of the Bike is a non taxable benefit for the employee that saves tax in terms of PAYE, USC, and PRSI. Employers can also benefit from a healthy active workforce, lower absenteeism and also reducing the carbon footprint of the organization.
The Cycle To Work Scheme is ideal for companies with a large work-workforce commuting on a regular daily basis in urbanised environments. Equally with remote working now taking hold, encouraging cycling is great for employee’s morale and well-being. Get Fit, Get Active, Get Cycling!
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How Does The Bike To Work Scheme Work?
Broadly speaking there are two income tax types in Ireland, and the savings achieved under the bike work scheme will depend on the tax rate you pay:
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Lower-Rate Effective Tax 31%
This Lower rate of tax applies if you have an Income of €35,300 or less. If you fall into this category you can save 31% on the purchase of the bike up to a maximum value of €1,250 (normal bike) and €1,500 (E-bike). The bike is put through as a non-taxable amount on your payslip and your employer pays us directly.
Higher Rate Effective Tax 51%
The higher rate of tax applies if you have an income above €42,000. If you fall into this category you can save Up to 51% of the cost of the bike up to a maximum value of €1,250 (normal bike) or up to €1,500 (for an E-bike)
The bike to scheme enables you to apply once every 4 years so it’s best to utilize the full allowable cap to €1,250 (normal bike) and €1,500 (E-bike) if you can afford to do it.
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Bike To Work For Employee Benefits
Ride To Work (Dublin, Dundalk & Ireland) has just gone digital! Simply Click Quote and Collect in Store
We offer an innovative free online quotation service for employees, a first in Ireland where you can get a no-obligation quote free online. Simply browse our bikes online.
Simply select the bike you want and click on the Ride to work Ireland quote button and we will contact you by email confirming your quotation details and bike specification. If you want to proceed a simple follow-up call will allow us to check bike availability, and issue the invoice to your employer for payment.
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If we don’t have the exact bike in stock we will contact you directly and we can offer you a bike from a range of world-renowned bike brands that we stock including Giant, Romet, Leader, Basso, Fondriest, Kelly’s & BH
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How much can You Save
My annual salary
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How To Apply for An Employee Benefits Bike To Work Scheme:
To apply simply select the category of bike you are interested in and click on Ride to work Quote button on product selection and complete your details. Your quote will come straight into our quotation system and our customer service agents will review it and get in contact by email or phone. It’s as easy as 1, 2, 3.
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We work with the following companies
Many employers don’t know that the Cycle to work Scheme can be administered directly with the retailer/Bike shops in Dundalk, Co Armagh, Co Down, Newry, Dublin and North East Ireland. At the Cycle Centre we deal directly with many large government departments including HSE, Department of Education and Skills, Health Service Executive, DESH,
WHAT IS THE RIDE TO WORK SCHEME IN IRELAND?
The Ride to Work Scheme in Ireland is a government initiative that allows employees to purchase a bicycle and safety equipment tax-free, up to a certain amount, through their employer. This encourages more people to cycle to work and promotes a healthier lifestyle.
HOW DOES THE RIDE TO WORK SCHEME WORK?
Employers can set up the scheme for their employees, who can then choose a bicycle and safety equipment from a registered retailer, such as CycleCentre. The cost of the bike and equipment is deducted from the employee’s salary before tax, saving them money.
HOW MUCH CAN I SPEND ON A BIKE THROUGH THE RIDE TO WORK SCHEME?
In Ireland, employees can purchase a bicycle and safety equipment up to a maximum value of €1,250 tax-free through the Ride to Work Scheme.
CAN I ONLY USE THE BIKE FOR COMMUTING TO WORK?
While the main purpose of the scheme is to encourage cycling to work, there are no restrictions on how you use the bicycle outside of work hours.
CAN I PARTICIPATE IN THE RIDE TO WORK SCHEME IF MY EMPLOYER DOESN'T OFFER IT?
Unfortunately, the scheme must be set up by employers, so you will need to encourage your employer to implement the Ride to Work Scheme if it is not already in place.
WHAT HAPPENS IF I LEAVE MY JOB AFTER PURCHASING A BIKE THROUGH THE RIDE TO WORK SCHEME?
If you leave your job before the end of the scheme’s payback period (usually 12 or 18 months), you may be required to pay back the outstanding balance on the bike. This will depend on your employer’s specific terms and conditions.
CAN I BUY A SECOND BICYCLE THROUGH THE RIDE TO WORK SCHEME/ CYCLE TO WORK SCHEME?
The scheme only allows for one bike purchase per employee, so you cannot buy a second bicycle tax-free through the same scheme.
If you have any further questions about the Ride to Work Scheme in Ireland and how to purchase a bike through CycleCentre, please feel free to contact us for more information.
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