Bike to work in three easy steps
- Come into us and choose your bike, clothing and accessories. You can test ride the bike if you would like to.
- We will give you a written quote with the bike, clothing and accessories you have chosen.
- Bring the quote to your employer and they will organise the payment and you can then collect your new bike.
- Your employer will then subtract the money from your salary over an agreed period of time (usually over period of 6 months or a year).
- If you are on the higher tax rate you will only pay approximately half of what is subtracted (i.e. if you have spent €1,000 approximately €480 will be subtracted).
- Individuals who are directors, self-employed or sole traders can also avail of the bike to work scheme. This is usually done by making a payment from your business account and your accountant will take of your tax credit
For more info and FAQs check out revenue.ie