The Cycle to Work scheme aims to encourage employees to begin cycling to work by offering a discount of up to 52% of the cost of a bicycle to the value of €1,000. In addition to this saving, Eurocycles™ offer 15% of the value of the bike in free accessories. If you spend €1,000 on a bike with Eurocycles™, we will give you €150 of accessories absolutely free. The offer excludes bikes that are currently on sale. The maximum value of free accessories on any bike is €150 and it does not apply to third party Cycle2Work schemes.
Call or email NOW if you would like to find out more on how you can purchase through us and recieve a quote:
Webstore - TEL: +353 (0)1 4567010 Email - email@example.com
Based on a purchase of €500 on the Cycle to Work Scheme you would be eligible for accessories to the value of €75. Click Here for our €75 Commuter Accessory Pack
Based on a purchase of €750 on the Cycle to Work Scheme you would be eligible for accessories to the Value of €112.50. Click Here for our €112.50 Commuter Accessory Pack
Based on a purchase of €1000 on the Cycle to Work Scheme you would be eligible for accessories to the value of €150. Click Here for our €150 Commuter Accessory Pack
The Cycle to Work Scheme is a tax saving initiative which aims to encourage Employees to cycle to work, rather than drive or use public transport. Under the scheme Employers can purchase Bicycles and Accessories for their Employees, who then repay the amount through a salary sacrifice arrangement of up to 12 months. The Employee is not liable for tax, PRSI, levies or the Universal Social Charge on their repayments and can save up to 52% off the value of the Bike (up to €1,000) depending on their rate of tax. Please email us if you need further information – firstname.lastname@example.org.
What equipment does the scheme apply to?
The scheme applies to new bicycles and pedelecs (electrically assisted bicycles which require some effort from the cyclist). It does not cover motorbikes, scooters or mopeds.
Purchase of the following new safety equipment is also covered:
Cycle helmets which conform to European standard EN 1078
Bells and bulb horns
Lights, including dynamo packs
Mirrors and mudguards to ensure that the rider’s visibility is not impaired
Cycle clips and dress guards
Panniers, luggage carriers and straps to allow luggage to be safely carried
Locks and chains to ensure cycle can be safely secured
Pumps, puncture repair kits, cycle tool kits and tyre sealant to allow for minor repairs
Reflective clothing along with white front reflectors and spoke reflectors
How do I pay for the bicycle?
Your employer pays the supplier (unless they have an administrator looking after their scheme for them) for the bicycle and sets up a ‘salary sacrifice’ arrangement from your salary over an agreed time frame (which cannot be more than 12 months).
Note that the tax exemption does not apply if you pay for the bicycle and are reimbursed by your employer – your employer must pay for the bicycle.
The repayment for the bicycle and equipment is then deducted from your gross salary (this means before income tax, PRSI, pension levies or Universal Social Charge are deducted). These deductions can be made weekly, fortnightly or monthly depending on your salary payment arrangement.
Employee visits our online store or shops and chooses their bike & equipment (For online request your quote through email@example.com )
Eurocycles™ will create an invoice for your chosen bicycle/accessories that you will present to your employer
Your Bike is held until payment comes from your company
Limit on the value of such purchases is €1,000 for each employee. Where the cost of purchase exceeds this amount employee pays the balance
Each Employee can only avail of the Cycle to Work Scheme once in five year period
Eurocycles™ Exclusive Offer
As an added incentive to partake in the Cycle to Work Scheme with Eurocycles™, when you purchase a bike under the scheme, you will get 15% of the bikes full value in free accessories. on all bikes over €500 and up to €1,000 on all none sale bikes only. For example, if the total value of your chosen bike is €1,000, you will get €150 of accessories absolutely free. NB* This offer does not apply to any sale items or bikes that are already discounted.
The rate of saving depends on the tax band in which you are categorised. If you pay tax at a rate of 31%, then you save 31% on the cost of your bicycle and accessories. The same applies for those paying tax at 52%
You can find out more about the scheme on the Revenue Commissioner’s website.
HOW TO APPLY
Contact your employer to ask about the scheme.
What are the benefits to the employer?
Improving Staff health, fitness and morale. A healthier, fitter workforce means better performance at work and fewer sick days being taken. Alongside walking and swimming, cycling is widely recognised as one of the most accessible forms of physical exercise for all ages. It has been shown people who cycle regularly will have an improved quality of life as it provides the cardiovascular exercise needed for a healthy heart.
Enhancing your Company’s Environmental Image. Cycling-To-Work reduces carbon pollution and traffic congestion on the surrounding areas. These points demonstrate beyond doubt that you are an employer who has a clear sense of social responsibility for both your staff and your customers.
Save on PRSI Payments
Minimum administration for employers who purchase through Eurocycles.com
No administration charges with Eurocycles™ by having a single point of contact for enquiries & invoices
Please contact our sales team by email at firstname.lastname@example.org to get started.
For more information you can browse the Government website at www.bikescheme.ie or Taxfreebicycles.com.