The Cycle to Work Scheme, often known as the Bike to Work Scheme, is an initiative by the government to incentivise commuters to commute to work by cycling. Essentially your employer needs to register for the Bike to Work scheme HERE
Once your employer is registered you can request the URL for the portal from your HR department, get registered and then set about finding the right bike for you. Once you have selected your bike you need to submit a quote for that bike and any gear or accessories you are buying that are covered by the scheme.
Your employer will then pay for your bike on your behalf, the cost of which is paid in regular instalments taken from your gross salary. The repayment plan is flexible and as you won't be liable to pay income tax, USC or PRSI you can save up to 52% on the overall costs.
How much does the scheme cover?
You can obtain a brand-new bike, along with safety equipment, up to the value of €1,250 for a regular bike or up to €1,500 on an electric bike and equipment. Announced just after the budget in October there is a new limit of €3,000 available for the purchase of cargo bikes and equipment, this will be available from the 1st January 2023. (New stock arriving shortly)
What accessories or gear is covered as part of the scheme?
The Bike to Work scheme allows you to buy cycle-related equipment which include bells, horns, lights, mirrors, luggage holders, mudguards, helmets and locks, pumps, puncture repair kits and certain tools are also covered. Some clothing is also covered including reflective and waterproof clothing.
How much can you save with the scheme?
Generally speaking, you can save between 32% and 52% on the retail price of the bike and accessories you purchase. The savings you make will vary depending on your tax bracket, credits, reliefs, and exemptions.
For example: If you are on the basic rate of tax and purchase a bike and accessories for €1,250 you could save up to €388 on the scheme. Similarly, if you are purchasing an e-bike and accessories to the value of €1,500 and you are on the higher rate of tax you could save up to €780. When you see these saving it is worth applying for the scheme.
SONA Bikes Bike to Work Packages
We have a number of Bike to Work packages available which includes both the bike and a very generous pack of gear and equipment. Everything you will need to get going with your new bike. Just look for the green circle symbol as you browse through our listings.
Check out:
The New Sona Strada RS road bike for the very best in quality, reliability and affordability. This bike is built to last with an all new aluminum frame, 2 x 8 drivetrain and powerful flat mount disc brakes it will flatten any city commute and make for great weekends out in the mountains.
The Bike to Work Package for this bike includes helmet, light set, water bottle & bottle cage, seat pack, multi-tool, 2 x inner tubes, puncture repair kit, tyre levers, Mini pump, full length mudguards, reflective vest and a solid u-lock to round off this fantastic package HERE
