Ireland is taking important steps to combat the climate crisis with initiatives such as the Cycle to Work Scheme, which aims to encourage individuals to swap their cars for two wheels and cycle to work every day. This government initiative is the result of research into the factors holding people back from using greener methods of travel, and it includes making it more affordable to buy a bike and other essential equipment with the introduction of tax-saving measures.
Cycling to work is not only a positive step for the planet, but also encourages a healthier lifestyle and saves both money and time spent commuting. Schemes like this open up sustainable travel options to more people, making it easier to reduce your carbon footprint and directly contributing to the reduction in harmful emissions in our cities. So, if you’re committed to more sustainable choices and want to get fitter into the bargain, read on for more information on how The Edge can help you with the Cycle to Work Scheme in Ireland and find out how this could work for you.
At The Edge, we’re here to help you find the best options for your lifestyle and your budget and our experienced team will take the time to understand your needs. You can use a bike bought via the Cycle to Work Scheme to enjoy cycling in your leisure time so it makes sense to find a bike that will really be enjoyable to ride. We have an extensive range of city bikes, hybrid bikes and electric bikes that are well suited to commuting to work, and we will be happy to provide the expert advice you need.
What is the Cycle to Work Scheme?
The Cycle to Work Scheme in Ireland is offered to employees of all companies that have chosen to participate, as long as they are over 16 years old, paid through the PAYE system and earn more than the National Minimum Wage after the salary sacrifice. If your employer is not aware of the scheme or the tax benefits it offers, you can encourage them to sign up. It is currently not available to those who are self-employed, although some expenses relating to travel – such as bikes and cycling expenses – can be claimed as business costs.
If your company is part of the scheme, you will be able to save up to 52% when you buy a bike and cycling accessories, depending on your tax status. Bike purchases under the scheme are exempt from tax, PRSI and USC, which makes the potential savings significant. The scheme applies to electric bikes as well as traditional bikes, and the tax benefits apply up to €1500 for an electric bike or €1250 for a traditional bike. You can purchase a bike that costs more than this, but you will need to pay for the excess costs in this case.
Under the Cycle to Work Scheme, bikes are purchased by the employer and then repaid by the employee via salary deductions. The payments are spread over twelve months and do not incur interest. Some employers have chosen to provide higher levels of assistance with bike purchases, with some including the cost as an employee benefit. Employers do not fund the Cycle to Work Scheme, they simply manage the salary deduction element and do not pay PRSI contributions on the cost of the bike, which reduces overall payroll expenses. This makes the scheme a very efficient way to show your employees how much you value them, as well as a great opportunity to invest in staff retention and the health of your team.
What does the Cycle to Work Scheme Offer?
The Cycle to Work Scheme is designed to cover the costs of bikes, e-bikes and cycling equipment, which includes helmets, high visibility clothing, bike locks, lights, mudguards, panniers and repair kits. You can also use the scheme to cover the costs of cycling sat nav systems, which can be seen as a commuting essential but will also help you to explore cycling as a leisure activity. The main purpose for accessing the scheme must be commuting to work by bike, but the bike and equipment can also be used for leisure cycling.
The Cycle to Work Scheme can be utilised once every four years, so you will be eligible to upgrade your bike four years after your initial purchase, for example. The purpose of the scheme is to provide significant savings on greener ways to travel, and this is an excellent way to change your lifestyle affordably. If you are considering an electric bike, this is a great opportunity to find out more about the options and commit to a more eco-friendly lifestyle.
Benefits of the Cycle-to-Work Scheme
The Cycle to Work Scheme in Ireland has many benefits for employers, employees, the cycling industry and the planet. Benefits include:
- Saving money. The scheme makes cycling accessible to more people by making it affordable for them to buy a bike and the necessary equipment to enable them to cycle to work and in their leisure time. The scheme is designed for employees as a tax relief system that allows them to keep costs minimal and to spread them over a longer period.
- Saving time. Sitting in traffic every morning is not a good way to set yourself up for the working day and you are likely to have a much more efficient commute by bike. A good system of bike paths and bike lanes in your local area makes commuting to work by bike easier and safer, allowing you to skip the traffic queues and arrive at work on time and ready for the day.
- Saving the planet. Harmful emissions are bad news for city dwellers and for humanity in general, and cycling to work is a good opportunity to lower your carbon footprint and make a commitment to a greener lifestyle. Reducing traffic on the roads and embracing a more environmentally friendly way to travel is one of the most effective ways to do your bit for climate change, and the Cycle to Work Scheme makes this easier to do.
- Improving your health. Cycling is one of the best all-round forms of exercise and increasing your health and fitness levels will have a positive impact on your body and your mind. Anything you can do to introduce more activity into your lifestyle will contribute to your well-being and longevity, and you will quickly notice the difference in your physical and mental health.
- Improving your workplace. Employers are generally very keen to sign up for the Cycle to Work Scheme because it is a good opportunity for them to give back to their employees and promote health and fitness in the workplace. In practical terms, they can also find benefits in the reduction of cars on their premises and investing in storage for bikes will help to ensure the success of the scheme.
- Improving the sustainability credentials of your workplace. As an employer, the scheme is a great way to embrace sustainability and enhance corporate social responsibility, as well as appealing to employees as part of a benefits package and committing to the well-being of current and future employees. It can also help to build a more positive workplace culture, recognising the hard work of employees that makes the business successful.
The Cycle to Work Scheme in Ireland is designed to have benefits for the individual, the employer and the community at large, and you can be a part of it if your workplace is signed up to the scheme. If your employer is not aware of the scheme, you can provide them with the information to sign up.
Cycle to Work: The Best Bikes in Ireland at The Edge
Finding the right bike can be challenging, especially if you have not ridden a bike in a long time. It can help to talk with experts and narrow down your choices, and making a shortlist of essentials before you start looking can help to ensure you don’t get sidetracked by a shiny model that doesn’t really meet your needs! We stock an excellent range of road bikes, hybrid bikes, mountain bikes and electric bikes, and we will always be happy to help you find the best solution for your lifestyle.
We are passionate about cycling and we have all the equipment you need to set yourself up for commuting to work by bike, as well as leisure cycling. We have an extensive range of cycling clothing, helmets, locks, lights and storage options, as well as mudguards, panniers and repair kits. At The Edge, we also specialise in outdoor adventure equipment so that you can enjoy swimming, running, triathlon and surfing. You’ll find our full catalogue on our website or you can pop into our store and make the most of our expert team.
