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 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.
To discuss the options and view the many bikes and accessories you can avail of, please call in and talk to Paul or Joanna at our shop at 151 West End, Mallow or give him a call on 022 317 17.
Paul would also welcome the opportunity to talk directly with a group of colleagues or management at your place of work to explain the many benefits and the simplicity of the popular scheme.
AMENDMENTS TO THE ‘CYCLE TO WORK SCHEME’
The allowable expenditure will be increased from €1,000 to €1,500 in respect of ‘ebikes’ and €1,250 in respect of bicycles. The scheme currently allows the purchase of a new bicycle every 5 years and this will be reduced to 4 years.
All other parameters of the scheme will remain the same.