Cycle To Work Scheme
The scheme allows you to save up to 52% on your new bike purchase
With the scheme, your employer buys a new bike for you, and you repay the cost gradually through your salary. The amount is deducted from your gross wage (before taxes), which helps you save money. This deduction is spread over an agreed period, up to a maximum of 1 year.
For example, if you're a higher tax payer and choose a €1,000 bike, it would cost just €9.50 per week for a year.
Do most companies in Ireland offer the cycle-to-work scheme?
Yes, many companies in Ireland participate in the cycle-to-work scheme because it also saves them around 10%. Just ask your employer if they offer it—we’re confident they’ll say yes!
Step 1 - Find Your Ideal Bike
We will make your journey of choosing a new bike as simple and smooth as a Sunday morning ride. Before diving into the details here, hop over to our blog – three essential questions we always ask our customers when they're picking out their perfect bike.
And, of course, if you'd rather chat than read, just get in touch with our crew to discuss your options!
Step 2 - Secure Your Chosen Bike
Once you've found the perfect bike, we recommend reserving it to ensure it's secured while your employer processes the paperwork, which typically takes 1-3 weeks. To secure the bike, you have the option to pay a €50 security deposit. This deposit is fully refundable if you change your mind! Remember, the deposit is optional and can be paid online, in-store, or by phone.
Step 3 - We Will Prepare Your Bike
While your employer works on the payment process, we will get your bike ready for you in-store. You can also get accessories fitted to the bike if you need them. Remember, the Cycle To Work Scheme is available every 4 years, so make the most of it – pick all the necessary accessories!
Step 4 - Hit the Road!
Once full payment is received, you are welcome to collect your bike! Alternatively, you can also enjoy our nationwide bike delivery. We're here to make the Cycle to Work Scheme a breeze, contact our sales experts via WhatsApp or email.
FAQ's:
FAQ: Who is a lower or higher taxpayer?
In 2024, in Ireland:
Lower Taxpayer: A lower taxpayer has a gross wage just under €810 per week. The basic tax rate is 20%, but with additional taxes and contributions, the total effective rate may be around 30%.
Higher Taxpayer: If your gross wage exceeds €810 per week, the excess amount is taxed at a 40% rate. In this case, the total effective tax rate can be around 52%, considering all additional taxes and contributions.
FAQ: How often can I use the Cycle to Work Scheme?
You can use the Cycle to Work Scheme once every 4 years. If you participated in the scheme at any time in 2021, you’ll be eligible to use it again starting from January 1, 2025.
FAQ: How much can I spend on the Cycle to Work Scheme?
Cargo and E-Cargo Bikes: Up to €3,000
Pedelecs and E-Bikes: Up to €1,500
Other Bicycles: Up to €1,250
FAQ: What happens if I purchase the bike under the Cycle to Work Scheme but don’t use it to commute to work?
Nothing—except that you’ll miss out on the enjoyment and benefits of cycling! The scheme encourages cycling in general, but commuting is not a requirement.
