Cycle 2 Work
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In January 2009 a new government scheme to encourage people to cycle to work came into force. Cycling keeps you fit, it’s fast, cheap and reliable – and it’s good for the environment. Garys Cycles is registered with the Office of Public Works as an official supplier of bikes for this scheme. It is applicable to all bikes, gear and accessories found here on our website or in our high street showroom. If you're thinking about saving a few euro on the trip to work, contact us now. |
The new bike scheme covers bicycles and accessories up to a maximum cost of €1,000. The bicycle must be purchased by your employer but the scheme can then operate either with your employer bearing the full cost of the bicycle, or by way of a salary sacrifice agreement (like the existing travel card scheme) in which you pay for it, tax free, over 12 months.
Participating in the bicycle scheme is easy. If your employer decides to take part, they simply buy the bike and equipment on your behalf and off you go. It’s is up to you and your employer to decided whether they buy the bike outright for you or whether you pay for it via ‘salary sacrifice’. Either way you save on tax.
The scheme is flexible in its application in that your employer doesn’t have to specifically notify the Revenue Commissioners that you’re availing of the scheme and there are no Government forms to fill out. However, your employer does have to maintain the normal records such as invoices and payment details associated with buying the bike.
For more information on the cycle to work scheme, how to claim and to get employer information contact us today.
