Cycle To Work Scheme Ireland
Feel Good Bicycles proudly participates in the Irish Government's Cycle To Work Scheme.
About the Scheme.
Cycle To Work Government Scheme is the cheapest way to buy a bike. This tax incentive scheme is designed to encourage more people to get on their bikes and cycle to work!
You can save up to 51% off the price of a new bicycle & accessories up to a maximum cost of €1,250 under a Government Cycle to Work Scheme. (€1,500 if Electric Bike)
This tax incentive scheme is designed to encourage more people to get on their bikes and cycle to work!
Avail of the Scheme once the 4-year period
An employee can avail of the exemption once in any 4-year period, commencing with the date the employee is first provided with a bicycle or bicycle safety equipment.
Cycling is a great form of exercise and by cycling to work, you'll make sure you stay active and get good exercise everyday without using up any more of your valuable time. Cycling keeps you fit, it's fast, cheap and reliable - and it's great for the environment.
How to participate?
Once your employer decides to take part, they simply pay for the bike and equipment of your choice on your behalf, and off you go. Your Employer will inform you how the payment will work exactly, whether they buy the bike outright or it operates under a "salary sacrifice" arrangement, but either way you save on Tax!
It is quick & easy to participate in the scheme. There are no Government forms to fill out. However, your employer does have to maintain the normal records such as invoices and payment details associated with buying the bike.
To find out more information on the scheme visit - https://www.revenue.ie/en/jobs-and-pensions/taxation-of-employer-benefits/cycle-to-work-scheme.aspx