Irish cycle to work scheme calculator download

The irish bicycle business association ibba today launched its first report on the cycle to work scheme which was introduced in 2009. Enter some details below to get a rough estimate for how much you could save. Despite the name non work use is allowed without triggering a tax charge. Oct 05, 2011 i was struck by the amount of press coverage of the cycle to work scheme c2w.

Cyclescheme ireland enables companies of all sizes to provide an engaging cycle to work scheme for their employees. Cycle superstore regularly visit our offices to provide demonstrations, showcasing a varied selection of new bikes on display. To support efforts to contain the spread of covid19 virus, new applications for the cycle to work scheme are not being accepted until further notice. It enables staff to hire a bike andor approved accessories for a 12month period with an option to buy outright at the end of the term. Find your closest bike shop in ireland here and make an enquiry thanks to irelands cyclebike to work scheme, it has never been easier nor more costeffective to purchase a bike in ireland. Use the cyclescheme savings calculator to get an idea of how much you might save. See an example of what you could save on the cycle to work scheme by using our online calculator. Cyclescheme cycle to work employer benefits calculator. This scheme was introduced on 1 st january 2009 to encourage employeesdirectors to cycle to and from their place of work and between work places.

Now if i use the evans ride to work calculator and enter. Office of government procurement cycletowork scheme. By availing of the cycle to work benefit with cyclesheme you can get 1 bike andor selected safety equipment up to the value of 1,000. Download our partner store brochure or for more info, or. Cycle to work scheme carmarthenshire county council. The cycle to work scheme is a very popular way of buying a new bike or equipment. Complete the application form and return along with any requested supporting documentation it to the appropriate payroll section i. The scheme allows for a civil or public service employer to incur the expense of providing an officer with a bicycle and bicycle safety equipment up to a limit of 1,000, without the officer being liable for benefitinkind taxation. Cycle to work scheme hse staff benefits and services hse. Cycle helmets which conform to european standard en 1078. Does paying scottish or welsh income tax affect my cycle to work scheme savings.

Irelands city bike and cycle to work scheme, and free cycle planner which caters. Cycle to work faqs department of education and skills. Cycle superstore are bt irelands biketo work scheme partner, providing a wide choice of bikes and accessories for all the bt staff who avail of the scheme. Dec 20, 2016 strictly speaking, you dont even have to use it for work. Enter your details below to see how much you could save the calculator includes your ownership fee so there will be no additional fees to pay. If your salary is paid to you within a scottish jurisdiction then your savings may be different from workers in england and northern ireland. Ireland, set up to facilitate thousands of employers to administer the scheme. However, if youre entitled to any discount then that can be deducted from our instore prices first. Using the bike to work scheme, your employer can help you obtain a brand. Cycle to work scheme hse staff benefits and services. Under the scheme, employers can pay for bicycles and equipment for their employees and the employee pays back through a salary sacrifice arrangement of up to 12 months. Is an independent company set up by iain cameron and james leahy in 2008 to facilitate employers to set up the cycle to work scheme.

Provision of bicycles and associated safety equipment by employers to directors and employees keywords. How the cycle to work scheme works cycle solutions. The scheme works by allowing an employer to loan a bike plus some accessories, lights, helmets etc to their employees as a tax free benefit. The scheme is run via a salary sacrifice meaning you wont pay tax or national insurance this can save you up to 42% on your new bike and accessories. The scheme is a council run initiative that has purchased over 300 bicycles to date. First, the company signs up with bikes4work to offer its staff access to irelands widest selection of retailers. Thanks to the governments tax relief scheme, employees can save income tax and prsi on the purchase of a bicycle and related safety equipment, when they buy it through their employer and the price is deducted from their salaries over a maximum of 12 months. Hse dublin north east hse dublin mid leinster hse west hse. Under the scheme employers can pay for bicycles and bicycle equipment for their employees and the employee pays back through a. The universitys cycle to work scheme procedure and application form is available on the human resources website. The way the scheme works is your employer buys the bike and equipment, then leases it to you through an interestfree salary sacrifice scheme. Using the bike to work scheme, your employer can help you obtain a brand new bike and safety equipment worth up to 1,000.

Cycle to work tax free bikes save up to 51% of the cost of a bike and accesories. Most taxable employer benefits are added to your pay and taxed in the same way. You can use a salary sacrifice arrangement to save up to 51% of the retail price of bike and equipment. To run this scheme, we are partnering with bike to work ltd, an independent irish company that. Halfords are proud to be able to offer a benefit to employees who work within roi to make sure they can take advantage of fantastic savings through the halfords cycle2work scheme fully in line with irish. Legacy of a tax scheme that really paid off the incentive means bicycles and accessories can often be bought for half the cost. Having read james leahys letter june 22 on the subject of the cycle to work scheme, i used the savings calculator of a wellknown cycle sales store to calculate the savings available to a. Cyclescheme is a provider of cycle to work schemes for irish employers of all sizes. Get started today and save up to 42% off a new bike. Keen to make your next bike purchase through a cycle bike to work scheme. Use the cycle to work benefits calculator to estimate what. Simply contact us and well provide you with the help and advice you need to get your scheme set up and running. Cycle to work scheme hse staff benefits and services a government scheme to encourage people to cycle to work came into force on january 1 st 2009.

The cycle to work scheme is a tax incentive scheme which aims to encourage. Here at the bike institute we offer further discounts for organisations who want to partnership with our store. Bike to work ltd offers employers a totally free service to help you take advantage of the government initiative offering tax free bikes for work. Does paying scottish or welsh income tax affect my cycle. Irish bicycle business associations launches report on cycle to work scheme.

I used the cycle to work scheme to get a bike in 2008. The faqs below relate to the cycle to work scheme and the taxsaver scheme. Send completed cycle to work application form approved by hr, together with supplier quotation to the purchasing office. Its been seven years since the bike to work scheme launched, promising to revolutionise irelands commuter traffic by incentivising cycling to work offering tax breaks for employees and employers who purchased bikes, obviously with the intention of cycling to work on them for some savvy employees, they might be on bike number two you can apply once in every fiveyear but for. Welcome to bike to work, irelands number one cycle to work scheme provider, helping thousands of employers to administer the scheme using irelands largest nationwide network of over 350 independent bike shops. Savings may vary due to your personal taxation and any cost incurred by your. The cycle to work scheme was launched by the government in 2009 to encourage the use of bicycles to travel to and from work. All you have to do is choose which cyclescheme partner store you wish to use and get a quote for your bike and accessories then make your online application.

Cycle to work scheme northern ireland cyclescheme belfast. All details in relation to the cycle to work scheme are outlined in circular 00662017. The reasons for this tax incentive are to reduce carbon emissions and traffic congestion as well as to improve general health and fitness. The cycle to work scheme is a government tax exemption initiative brought in to promote cycling as a healthier option for commuting to work and reduce environmental pollution. Thats the purpose of the scheme the bike must be used by the employee for qualifying journeys. Bike scheme benefits the sellers mostly independent.

Bike 2 work scheme limited enables employers and employees to work together to take part in the governments cycle to work scheme. Bikes4work from one4all is a staff benefit that allows employers and employees to take advantage of the government cycle to work scheme, offering taxfree bikes and equipment up to the value of. Tax free bikes for work through the governments finance bill. The cycle to work scheme is a uk government initiative. Using the cycle to work scheme, your company can purchase a brand new bike and safety equipment worth up to 1,000 tax free, for your employees.

Find out how you much you could save on a brand new bike with our cycle2work scheme calculator. The government cycle to work scheme is a tax incentive scheme which encourages employees to leave the car at home and cycle to work. Examples include company cars, loans, medical insurance premiums and childcare facilities. Use the cycle to work benefits calculator to estimate what your business or organisation could save with cyclescheme. In this employees section you can estimate the savings you could make on a bike or and find answers to frequently asked questions. Cycle to work the bike institute bike to work today. This reduced cost is simply deducted out of your payslip over 12 or 18 months, so no need to worry about large oneoff costs. Items purchased under the scheme are not a taxable benefitinkind bik. Download our partner store brochure or for more info, or contact us.

The cycle to work scheme generally known as the bike to work scheme is a tax incentive scheme to encourage employees to cycle to work. Find your closest bike shop in ireland here and make an enquiry thanks to irelands cycle bike to work scheme, it has never been easier nor more costeffective to purchase a bike in ireland. The cycle to work scheme, or as it is better known, the bike to work scheme is a tax incentive initiative which aims to encourage employees to cycle to and from work. Under this scheme an employer is allowed to incur the expense of providing an employee with a new bicycle and bicycle safety equipment without the employee being liable for benefitinkind taxation. Otherwise, if youre yet to do so, you can browse our website to find your new bike, clothing, helmet and accessories below. Under the scheme your employer can buy a bicycle and safety equipment for you. Under the scheme an employer can pay for a new bicycle including bicycle accessories and the employee then repays. By using the cyclescheme cycle to work benefits calculator you can calculate your companys potential financial and environmental savings along with your employees potential financial and health benefits. Halfords are proud to be able to offer a benefit to employees who work within roi to make sure they can take advantage of fantastic savings through the halfords cycle2work scheme fully in line with irish rules and regulations. Not only does it show respect for the environment but enables those who wish to cycle to work access to a taxfree bene. Bike to work scheme pi cycles, mallow, co cork, ireland. Jun 24, 2012 the cycle to work scheme was introduced in the budget by the green party in 2008 and came into effect on january 1, 2009. Under the cycle to work scheme employerprovided bicycles can be a good tax and nifree benefit in kind for directors and employees. This means the benefits of the scheme are now even better for both employees and employers.

Uccs cycle to work employer bicycle scheme started in september 2009. No commission sales through the cycle to work scheme this listing is free from cycletowork. Use our advanced calculator to see how much you could save on a new bike. With the cycle to work scheme everyone wins employees make big savings on new bicycles and accessories and employers save money on prsi and get a healthier and more productive staff. Employers also fully recover the initial cost of the bike, and gain a healthier, happier and more productive workforce too. Cycle to work scheme northern ireland home facebook. The irish bicycle business association ibba, which seems to have no website launched a report which cannot be found online praising the virtues of c2w.

Bike shop only application cycle to work scheme ireland. The cycle to work scheme allows you to purchase new bicycles and safety equipment for your employees. Under the scheme employers can pay for bicycles and bicycle equipment for their employees and the employee pays back through a salary sacrifice arrangement of up to 12 months. Weve summarised some of the main points below and weve also produced a comprehensive guide to the changes that you can download below. The cycle to work scheme is a tax incentive scheme which aims to encourage employees to cycle to and from work. The bike to work scheme is aimed at employees under irish tax system. Cost is spread over weeklymonthly interest free payments. Primary teachers, post primary teachers or nonteaching staff payrolls section, department of education and skills. Please select from the links below to get further information about the scheme in your area. The cycle to work scheme was introduced in january 2009 to encourage people to cycle to work. This scheme aims to encourage you to cycle to and from work. Jun 18, 20 this scheme was introduced on 1 st january 2009 to encourage employeesdirectors to cycle to and from their place of work and between work places.

The cycle to work initiative gives you the opportunity to sacrifice part of your salary in return for one bicycle andor allowable safety equipment, which should be used primarily for part or all journeys tofrom work. Introduced in 2009, this tax incentive scheme is designed to encourage more people to get on their bikes and cycle to work. It applies to bicycles, pedelecs electrically assisted bikes and cycling accessories up to a maximum cost of. All the most common questions answered, and a few less common ones too. Cycle to work government scheme is the cheapest way to buy a bike. You dont pay income tax, prsi or usc on the cost of your chosen bike package so can save up to 52% on the retail cost. The cycle to work scheme is a tax exemption initiative aimed at promoting healthier journeys to work. With ride to work, you can get a taxfree bike, which for most people means they save a minimum of 32% of the cost.

Keen to make your next bike purchase through a cyclebike to work scheme. I was struck by the amount of press coverage of the cycle to work scheme c2w. In general, benefits that you receive from your employer are taxable. The government has recently updated the cycle to work scheme to encourage more people to commute to work by bike. This is a government scheme and details are available on citizens information and revenue websites. Cyclescheme savings can vary but the great news is that our calculator offers very accurate savings forecasts. Under the scheme, a bicycle is purchased directly by the employer and claimed as a taxexempt benefitinkind. Discounts available these are subject to terms and conditions.

With rideto work, you can get a taxfree bike, which for most people means they save a minimum of 32% of the cost. Your employers cycle to work scheme will have a limit. Additional incomes information about tax on income such as benefits in kind, shares, social welfare payments, and nixers. If so, you need to click on the link in the email they sent you for full details of the scheme. Cyclescheme ireland are partnered with hundreds of bike stores nationwide giving you the best choice of bike and accessory brands and models. The report underlines the many successes of the scheme, with more people than ever now cycling to work. The cycle to work scheme allows the company to buy bikes and accessories up to 1,000 tax free for their employees and deduct the net cost from their employees salaries over 12 months. Home cyclescheme calculator now you know how it works, and you know what you can save. Cycling and walking in workplace travel planning the health benefits of walking or cycling to work are proven. Under the governments cycle to work scheme, bicycles and safety equipment up to the value of can be. Cyclescheme ireland local business dublin, ireland. Are you a company or organisation that want to introduce your staff to the cycle to work scheme.

The cycle to work scheme is a government initiative to encourage alternative travel and reduce environmental pollution. Cyclebike have been the exclusive cycle to work scheme provider for companies such as ikea, bord na mona and kpmg. Cycle to work contact department of education and skills. Public health agency guidance shows that 30 minutes of moderate exercise five times a week cuts the risk of developing serious illnesses by up to half.