Benefits for Employer

The cycle to work scheme enables your employees to purchase a brand new bicycle and safety equipment up to the value of €1,000 income tax free. In order to do this the company must pay for the bike and recoup the payment from the employee[s] through salary deduction. You can recoup the total cost of the bike purchase in one salary deduction or you can spread the repayment schedule over 12 months. In addition, you will save PRSI contributions of c10.75% for each employee.

What to do:

1. Request a quote from your employee[s] for the bicycle and accessories they wish to purchase. They can get this from our website or by visiting our store.
2. Contact your payroll provider and inform them you wish to use the Cycle to Work Scheme for the named employee[s]. Direct them to make the appropriate adjustments. Inform them of the repayment schedule (one week or up to twelve months).
3. Reduce the employee's gross/pre-tax salary by the cost of the bike using Salary Sacrifice plus your saving on PRSI.
4. Send the payment on the quotation to us via bank transfer, cheque or credit card.
5. On receipt of payment we will contact the employee and arrange delivery/collection.

The advantages to you as an employer are:

1. Enhancement of Staff Morale. It's an additional payment in Kind to your employees that doesn't cost you anything.
2. Improvement in health and motivation levels of your staff.
3. Punctuality improves for those who cycle to work according to studies carried out.
4. Cycling provides a natural mood enhancement. Your employees will arrive at work in a better frame of mind to undertake the work of the day.
5. Reduce the number of parking space required. There will be more room for visitor/customer parking.
6. Research provides strong evidence that absentee levels are substantially lower when employees cycle to work.

Further Queries?

Contact Conor.mcalinden@cyclesuperstore.ie or phone 01 4632270 ext. 210