At FitzCycles.ie it couldn’t be easier to get your tax-free bike and accessories! As a busy Irish bike shop and a registered cycle to work supplier we can accommodate all applications quickly and efficiently in number of convenient ways. Through our experience as a busy Irish bike shop we are well placed to cater for all your Cycle To Work needs with a comprehensive online product catalogue & a friendly customer-focused service in our spacious shop in Stillorgan, County Dublin!
How the Cycle to Work Scheme operates:
- In a nutshell the scheme works by allowing Employers to buy a bike and related accessories from an approved supplier up to a value of €1,000 on behalf of an Employee which is then repaid through salary sacrifice over a period of up to 12 months.
- Expenditure up to this amount will be exempt from PAYE, PRSI, or income levy charges, a potential saving of up to 52% depending on the applicable personal tax bands.
- The exemption is limited to the first €1,000 – with the employee paying the balance personally.
- Employees can only avail of this scheme once in every 5 years i.e. even if you purchase a bicycle or bicycle safety equipment for less than €1,000 in year one, you cannot claim an exemption in respect of the balance.
- Employers will benefit in a number of ways, namely through savings of 10.75% in Employer PRSI, but also from a greener corporate image & a healthier, happier workforce!
In terms of administering the scheme, your Employer will either pay the bike shop directly through cheque or bank transfer or choose to use a voucher company to administer the scheme - simply check with your HR department to determine what their procedure is. We are set up to cater for every payment method there is, so we can get you rolling on your tax free bike in no time!
Exclusive benefits of dealing directly with FitzCycles.ie:
- Exclusive corporate deals available for free clothing & accessories up to the equivalent of 10% of the value of the bike purchased by staff - contact us for details.
- Exclusive extended staff discounts & special offers available for Employees.
- Free mobile road show that allows Employee’s to view and test the full range of bikes & accessories available to them at their own place of work and at the Employer’s convenience.
- We regularly attend corporate seminars and social days to promote & explain the scheme and provide assistance to internal social & charity committees with regard to any cycling events they are organising.
- We offer a comprehensive advisory service on the Cycle to Work scheme from Application Form templates to internal scheme promotion & explanation.
- Exclusive range of bikes – as an Irish bike shop with a difference we are often the only dealer in Ireland for many of our brands such as Stevens and Hercules city bikes from Germany.
To set up your company or request a free Cycle To Work information pack - simply contact us.