The Cycle to work scheme
The Cycle To Work Scheme is a tax incentive scheme which aims to encourage employees to cycle to and from work. It allows anyone who is currently in employment to save up to 52% off the cost of your bike and accessories, in the higher tax bracket or 31% in the lower bracket. Under the scheme employers can pay for bicycles and bicycle equipment on their employees behalf and then employee pays back through a salary sacrifice arrangement of up to 12 months. The employee is not liable for tax, PRSI or the Universal Social Charge on their repayments. This means Vital Fixies can be bought for as little as €10 per month(€112 in total).
There are a few things you'll need to check with your employer before you can get a bike
1) Check with your employer that they offer the cycle to work scheme.
2) Once you’ve gotten the green light from work, place an order as you usually would, along with any safety equipment, lights, locks, mudguards, or accessories you would like – as they’re all include under the scheme – and choose ‘Cycle To Work Scheme’ when choosing your payment method.
3) We’ll issue you with an invoice, which you can give to your employer. They will then deduct the cost of the bike from your salary over the time frame you have agreed.
4) Once the bike has been paid for, you can arrange for collection from our base in Dublin, or we can ship it directly to you.
Many large corporations in Ireland (e.g. Air B&B, Microsoft, Google) use brokers such as Cycle Scheme, Bike To Work and Bikes4Work to process employees requests on their behalf. If your employer is using a broker you can still purchase one of our bikes. We work with several Cycle To Work Scheme brokers to cover pretty much every company in Ireland. You can follow the step by step instructions on each of their websites to purchase your bike.
Cheques should be made payable to JMJ BICYCLE DISTRIBUTION LIMITED and posted to 18 Priory Business Park, Stillorgan, Co. Dublin A94V8N2. Please include a copy of your original invoice.