From a health, money saving and payroll perspective, taking the bike to work simply makes sense!
Although it has been around for many years now, it is worth reminding you about “Bike To Work” schemes. The fact that you can buy a bike for the purposes of traveling to work for 48% of the normal purchase price is worthy of mention.
And besides, it’s good for you too!
Cyclescheme is a provider of tax-free bikes for the Revenue’s Cycle to Work scheme. Employee’s can make big savings of up to 52% on the price of a bike and accessories through savings on Tax, PRSI and USC.
Employers can also make savings on employer PRSI of up to €107.50 per employee. By providing a “bike to work” scheme through your payroll, you get a healthier workforce and reduce your carbon footprint as well as providing a fantastic benefit to your employees.
Cyclescheme provides a full administration service for the employer at no cost whatsoever. This means that you can make a saving on every single request. Cyclescheme provides a complete free of charge service which includes (but is not exclusive to)
- scheme advertising material,
- a secure online system that tracks all applications and when each employee is next eligible for the scheme
- salary sacrifice forms
- payroll files
- payments to retailers
- a friendly helpline to help your employees get the most out of the benefit
- retailer visits to your work place
We currently have over 250 retailers nationwide for your employees to choose from, giving your employees a wide variety of choice to benefit the most from the scheme.
More information can be found at www.cyclescheme.ie
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All the best,
The Team at Jefferson