The Edge Sports Shop participates in the Government Cycle To Work Scheme.
Ireland’s Cycle to Work Scheme has been helping the country get fit and healthy for more than a decade. Essentially the scheme offers employees a tax free bike. Launched in 2008, the Government tax initiative was set up to encourage more people to cycle to work. Since then, thousands of people around the country have taken to two wheels with the scheme.
Through the scheme you are covered for bike costs up to €1,250 on traditional bikes and €1,500 on e-Bikes. This includes bikes and safety equipment, such as bike helmets and panniers. The scheme even includes electric bikes and pedelecs.
The Cycle to Work Scheme lets your employer buy your chosen bike and accessories on your behalf. Your employer will then deduct the payment each month from your gross salary. The great news is that the repayments come out before PRSI, tax or USC. This means that if you’re on the higher tax rate, you can end up saving nearly half of the cost. The scheme also allows you to reapply every four tax years.
Ask your employer if they are registered for the Cycle to Work Scheme. Employers that are not yet registered can email us at email@example.com for assistance. If you think that your employer might need a little convincing, offer these two facts:
● They will make savings on Employer PRSI with the Cycle to Work Scheme..
● Employees who cycle to work take less sick days. (You’ll soon find they want to offer it to all their employees).
Some employers use companies like Tax Saver Bikes, Bike to Work Ltd or Travel Hub to manage the scheme. At The Edge, we accept Cycle to Work Scheme vouchers from all of these and also Tax Free Bikes Ltd.
Next, pop into The Edge and select your preferred bike and or safety equipment. Our friendly team will be on hand to offer advice and assistance if you need it.
Once you have selected your bike, we’ll give you a written quote to take to your employer.
When you give your employer the quote, they will make contact with us at The Edge and make payment. If they are using one of the schemes mentioned above, they will use this method to pay.
At this stage, you will agree with the terms of your salary sacrifice arrangement with your employer too. Together, you will decide how much to repay from your gross salary each month.
After the payment is made, you will be given confirmation or a voucher by your employer. Bring in your confirmation/voucher to us and we’ll get everything ready. There’s also an option to have your bike delivered. Chat to our team about this when you visit The Edge to choose your bike.
That’s it! Once you have your bike, you’re good to go. Happy cycling.
As well as the preventative health benefits we've already mentioned, there’s a lot to be said for cycling and health.
Cycling suits all fitness levels and is a low impact activity, making it better for your joints. The more you cycle the leaner and stronger you’ll become too. Cycling even just to work and back, burns fat and builds your muscles. A great way to get fit as part of your daily routine.
A healthier lifestyle also improves sleep quality. Studies have proven that even a 2% decline in fitness levels can negatively impact sleep. So get on your bike if you are struggling to get a good night’s sleep.
Mental Health Benefits of Cycling To Work
It’s not only your physical but also your mental health that benefits from a bit of bike time. At the very minimum, exercising releases happy hormones (endorphins) which reduce stress.
Using your bike to exercise is also known to improve cognitive function, including memory and comprehension. It can also shut off the never ending ‘chatter’ that we have in our minds, reducing anxiety and aiding relaxation.
By buying a bike through the Cycle to Work scheme, you’re already saving on the cost of the bike. You’ll also save money on petrol. Just think how much you could save by having to fill up the car less frequently.
How much time do you usually spend sitting in traffic in your car or on the bus? Or sat outside train stations due to never ending delays? Zip through the standstill traffic jams on your new favourite bike and get to work in no time.
Commuting time can be reduced by 50% or more by using a bicycle. And imagine the time you would save on an electric bike. Leaving you with more time to enjoy the things you really love. Plus, you’ll have already exercised, so that’s less time needed in the gym too!
Because you are exercising on your bike before you reach work, you will arrive ready to work. Without the need for a morning coffee to wake you up, you’ll find you have better creativity and less fatigue.
Payment - Direct to our company bank account is best
It is easiest if we are paid directly by companies for their employees bike to work purchase using one of the following methods:
For companies that have not participated in the scheme so far or who need advice on how to make it work for their company we can provide additional forms / paperwork to companies and full information on their obligations under the scheme - firstname.lastname@example.org please email us to find out more.
Voucher Payment Schemes
We are members of 3rd party voucher based schemes but the commission charged by these schemes means that we are unable to offer discounts on purchases / match the price that you may see on the website for products. These companies are essentially a middle man between your company and us, and charge a hefty commission to us on the transaction. We have found that to be able to take and process these vouchers, we are unable to discount our bike to work admin service fee in order to process such vouchers, because the accounting and processing of them is difficult and costly, payment is delayed, and if something goes wrong, it is our risk (more on this below).
The schemes that we accept vouchers from are:
If you have any questions please don’t hesitate to contact us.
Cycle to Work Scheme Admin
A lot of administrative work is generated for us by the bike to work scheme. From 1st March 2021 with regret we have been forced to introduce an Admin fee for processing Cycle to work scheme payments. We do our best to discount this - this is generally possible if we are paid directly - via bank direct transfer or credit card for example where we have to do very little extra admin / accounting / fee reconciliation.