How do you get a bike on the cycle to work scheme?

How do you get a bike on the cycle to work scheme?

In essence, your employer buys a bike for you to ride to work and you ‘hire’ it through salary sacrifice (which is where you save by not paying tax and National Insurance contributions on the monthly fees). At the end of the ‘hire’ period, you are usually offered the option to buy the bike from your employer.

Can you use cycle to work scheme online?

Cyclescheme enables your employees to choose whether they want to shop in-store, online, on mobile, via click and collect or even factory direct.

Is the bike to work scheme still in operation in Ireland?

As an employee you can use the scheme once every 4 years. The four-year span between tax breaks is counted by tax year. If you bought a bike in 2018, regardless of the month, you could buy a new bike and avail of the next tax relief in January 2022.

Who can apply for cycle to work scheme?

If you are a working adult aged 16 or over, you are eligible to join Cyclescheme. Your employer needs to be signed up and your earnings should be more than the National Minimum Wage after the salary sacrifice is taken from your gross salary.

Do I have to use Halfords for cycle to work?

Cycles UK accepts Cycle to Work – Halfords Cycle2Work vouchers both in our stores and online. This means you can use Halfords Cycle2Work to buy bikes from the world’s best brands including Specialized, Trek, Whyte and Cannondale.

Does Mcdonalds do cycle to work scheme?

McDonald’s Restaurants ran a bikes programme in May and June 2007 in response to staff feedback. Its ‘On your bike’ scheme, which was not part of the government-sponsored bikes-for-work scheme, enabled staff to buy a range of bikes and accessories at discounts of up to 60%.

How much do you pay for cycle to work scheme?

Own it now – you pay either 18 or 25% of the bike’s value (18% if the bike was initially under £500 and 25% if it was initially over £500). You now own the bike. Return the bike – if after your initial hire period you do not want the bike you can return it.

Can I get 2 bikes on cycle to work scheme?

Can I get more than one bike? Yes! If you would like to get two bikes you certainly can – as long as they are both suitable and safe for you to ride, and your total doesn’t exceed your scheme’s maximum limit.

How do I apply for the cycle to work scheme?

Individuals wishing to avail of the Cycle to Work Scheme are required to: 1. Read and agree to the conditions governing the scheme (Appendix 1). 2. Complete an Application Form (Appendix 2) which outlines the bicycle / ebike and/or bicycle safety equipmentto be purchased. 3.

What is the bikes to work scheme?

Bike to Work Ltd offers employers a totally free service to help you take advantage of the Government initiative offering tax free bikes for work. Using the Bike to Work scheme, your company can purchase a brand new bike and safety equipment worth up to €1,250 for a regular bike, and up to €1,500 for an electric bike tax free, for your employees.

Can my employer Buy Me a bicycle for work?

This scheme aims to encourage you to cycle to and from work. Under the scheme your employer can buy a bicycle and safety equipment for you. This will not be a taxable benefit-in-kind. There are now two limits, depending on the type of bicycle purchased.

When do I have to use the cycle scheme again?

For example, if you used the scheme during any month in 2016, you can use the scheme again from 1 January 2020. You must mainly use the bicycle and safety equipment for qualifying journeys. This means the whole or part of a journey between your home and your normal place of work.