Bikeconomics

Cycle to Work / Bike to Work Scheme – Save money on buying a bicycle!

The Irish government has been operating a cycle to work scheme since 2009 which enables you to purchase a new bicycle via your employer & the payments are made via salary sacrifice in an arrangement with your employer.

The scheme allows you to purchase a bicycle & qualifying safety accessories up to a value of €1,000. By purchasing the bicycle via your salary, you save on wage related income taxes & could potentially save up to 52% off the retail price of a bicycle.

This is a fantastic incentive to purchase a new bicycle & start cycling. While the basis of the scheme is to encourage you to start cycling to work, there is no policing of this i.e. you do not need to log your journeys with anybody. However it is a good way to kick start the idea of commuting to/from work if you are considering it.

The full rules of the scheme are available on Revenue’s web site by clicking here.

Ask your employer if they are participating in the scheme & start saving money by cycling today.