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.Using the Bike to Work scheme, your company can purchase a brand new bike and safety equipment worth up to €1,250 for a regular bike, and up to €1,500 for an electric bike tax free, for your employees. You need to do this to process the receipts and bills you entered on Revenue … 4.2 If the scheme meets the relevant criteria it can benefit from a tax exemption introduced under Section 244 of the Income Tax (Earnings and Pensions) Act 2003. Our service is completely free of charge for both employers and employees. In 1999, the UK government introduced the ‘cycle to work’ scheme. In most cases, this is an annual tax exemption that allows a business to loan bicycles and cycle safety equipment to employees as a tax-free benefit. Employers cycle to Work Scheme. There has been a good bit of interest from some of my collegues. The bike to work scheme is aimed at employees under Irish tax system. Applying for relief. Hi All, Im organising the bike to work scheme in the company where I work. The following benefits provided by your employer are taxable: accommodation that is free or subsidised where the job does not require you to live in the accommodation (see Free or subsidised accommodation) awards made to you due to staff suggestion schemes. Cyclescheme Ireland was created to help both employers and employees make the most of the Cycle to Work initiative brought into place by the Green Party in the 2008 Budget. Under the scheme, a bicycle is purchased directly by … Here are some frequently asked questions regarding the cycle to work scheme for both employers and employees, for more see revenue.ie. 2) Act 2008 which allows an employer to incur Ive also sourced a bike shop through a mate of mine (we both used compete on road a few years ago so have a few contacts). How do I benefit from the Cycle to Work Scheme? charge cards: private use of a company charge card by you. Cycle to work scheme. Legislation was introduced in the Finance (No. You can use this to set up a ‘cycle to work’ scheme to encourage employees to travel to and from work by bike. They do not apply when you bring work home outside of normal working hours. If you are claiming Remote Working Relief, you will need to complete an Income Tax Return. Once payment is received by BiketoWork we will email you a voucher code with which you can collect your bike. The cycle to work scheme was introduced in the Budget by the Green Party in 2008 and came into effect on January 1, 2009. Can anyone avail of the bike-to-work scheme? The salary sacrifice scheme Overview 4.1 A Cycle to Work scheme can benefit both the employer and the employee. About BiketoWork Welcome to Bike To Work, Ireland's number one Cycle to Work scheme provider, helping thousands of Employers to administer the scheme using Ireland's largest nationwide network of over 350 Independent Bike Shops. Cycle to Work Scheme for ETB Employees 1 INTRODUCTION The Minister for Education and Skills wishes to inform CEs of the revised terms and conditions for the Cycle to Work Scheme. Taxable employer benefits. Well, besides the obvious health and environmental benefits, there is a tax incentive that you could be taking advantage of. 4. The scheme will apply to all staff employed by ETBs.