Bike To Work Scheme
Join the 1000's who have availed of the Bike To Work scheme - drop into our shop to
see our range of commuter bicycles and accessories.
What can you buy?
Employees can spend up to €1000 on a bicycle and accessories and save up to 49%.
The accessories covered includes cycle helmets, bells, horns, lights, mirrors, mud guards,
reflective clothing, panniers, luggage carriers and straps. Also covered are locks and chains,
pumps, puncture repair kits and cycle toolkits.
Working with Companies
Employers save on PRSI payments as the scheme repayment deduction is made from the salary before tax
and PRSI are calculated.
The accounting side of this scheme is very similar to the Annual Bus/Rail tickets.
Wheelworx can work with companies to streamline the process - we want to see more people on bikes!
Reasons to Cycle to work
The Smarter Travel Workplaces website lists the
following benefits:
- Improved health
- Save Money
- Save Time
- Reduce Stress
- Cleaner Environment
- Reduce Traffic Congestion
Benefits to Employers
Back to the Smarter Travel Workplaces website for
a list of benefits to employers:
- We can tailor a package to reduce cash flow impact for your company.
- We offer workplace presentations outlining the scheme and it's benefits to the Employer and Employee including bike and equipment
demonstrations free of charge at a time convenient to you.
- Healthier employees
- Employee commute time is more reliable
- Reduced cost of parking spaces
- Reduce pollution of commuting employees
How Does It work?
- Limit on the value of purchases is €1,000 for each employee
- The exemption may only apply once in any five year period in respect of any employee.
- The bicycle can be funded by either the employer or through salary sacrifice of the employee but it must be purchased by the employer. Where funded by salary sacrifice there will be savings on tax, PRSI and levies.
- If an employee is on the top tax rate, paying 2% income levy and €1,000 is spent on a bike and accessories, a saving of €490 is made by the employee and the employer saves €107.50 on PRSI.
- Employers will not be permitted to purchase bikes for their employees where they do not believe that they will be used for cycling to and from work by the employees in question.
Unique to Wheelworx
- Huge selection of brands.
- Expert staff to help you select the bike most suited to your needs.
- We offer personalized fitting, to ensure the correct size bike for you as part of our bike to work service.
- We offer one years free servicing with all bikes purchased under the bike to work scheme.
- All customers will be invited to come along to our free maintenance evenings to learn how to
correctly maintain their bike; how to fix punctures, adjust brakes, clean and lubricate your bike etc.
These sessions will be aimed at all levels, beginners to advanced and will include
"Women Only" maintenance evenings at our premises.
Contact us to find out more about the scheme.
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