Cyclescheme
What is Cyclescheme
By availing of the Cycle to Work benefit with Cyclescheme, you can get either a pedal bicycle and accessories up to the value of €1,250 or an e-bike and accessories up to the value of €1,500.
You don’t pay Income Tax, PRSI or USC on the cost of your chosen bike package, so can save up to 52% on the retail cost
How to Order
To get a bike through Cyclescheme, your employer needs to be signed up to the scheme. If your employer is not signed up, or you are not sure, speak to your manager or HR department, and direct them to this site. You can also invite your employer to join.
Pop in to us here at Tri Hub They and we will take the time to talk about what sort of bike and equipment is best for you, and provide you with a written quote for these items.
Go to your employer's special Cyclescheme web address to request your certificate and digitally sign your salary sacrifice agreement If you are not sure what this is, ask your manager or Cyclescheme administrator.
We will ask your employer to confirm your eligibility and approve your request, and then send them an invoice for the bike package. As soon as the invoice is paid, we will send you your printed certificate, which you can then take to your chosen bike shop to exchange for a bike and equipment.
Remember that you can track your request at any time by clicking on My Cyclescheme.
There you can exchange it for your chosen bike and equipment. You might want to call us first to check these are currently in stock. You will also need to take photographic ID with you, such as your passport or driving license. This helps us to ensure the equipment reaches you safely.
Your Salary Sacrifice deductions will commence and are deducted from your Gross salary. The Salary Sacrifice is taken from your Gross Salary and you make your savings in your Net salary by not paying Income Tax, PRSI and USC on the cost of the bike package over the agreed Salary Sacrifice period.
How much can I save?
By availing of the Cycle to Work benefit with Cyclesheme you can either get a pedal bicycle and accessories up to the value of €1,250 or an e-bike and accessories up to the value of €1,500. You don’t pay Income Tax, PRSI or USC on the cost of your chosen bike package so can save up to 52% on the retail cost. Use the Cyclescheme Savings Calculator to get an idea of how much you might save! Note: You do not need to enter an employer code.
Example:
What can I get?
You can either get a pedal bicycle and accessories up to the value
of €1,250 or an e-bike and accessories up to the value of €1,500 In
addition to the purchase of 1 pedal bicycle or 1 e-bike the folowing
safety equipment can be found here https://www.cyclescheme.ie/getting-a-bike/what-can-i-get
FAQs
What is the Cycle to Work scheme?
The Cycle to Work initiative gives you the opportunity to sacrifice
part of your salary in return for one bicycle and/or allowable safety
equipment, which should be used primarily for part or all journeys
to/from work.
Under the scheme you don’t pay Income Tax, PRSI or Universal
Social Charge on the price of a bicycle or eligible accessories
To take part in the Cycle to Work scheme your employer would need
to be signed up to Cyclescheme Ireland
What are the limits?
You can apply for 1 bike package and the limits are up to €1,250
for a pedal bicycle and eligible accessories and up to €1,500 for an
e-bike and eligible accessories. You can only avail of the benefit and
Tax savings once every 4 years.
How much can I save?
You can save up to 52% on the retail cost - average savings range
from 28.5-48.5% based on marginal tax rate (20% basic and 40%
Higher,) USC @4.5% and PRSI @4%.
How often can I get a bike through the scheme?
How often can I get a bike through the scheme?
What happens with returns?
Marks and devious Semikoli but the Little Blind Text didn’t listen. She packed her seven versalia, put her initial into the belt and made herself on the way.
Can I avail of both the Ticketscheme and Cycle to Work schemes?
Yes. These schemes are not mutually exclusive.