Cycle to work scheme

08.6.12

Using the Bike to Work scheme, your employer can help you obtain a brand new bike and safety equipment worth up to 1,000 euro. You can use a salary sacrifice arrangement to pay for the bike monthly and that means you can save up to 52% of the retail price of bike and equipment. Your employer also makes 10.75%  savings on their PRSI to encourage them.

So for a bike costing €600, an employee on the higher rate will save €312 and their employer will save €64.50 in PRSI. See 5.4.8 Provision of bicycles and associated safety equipment by employers to directors and employees

– www.revenue.ie

– www.bikescheme.ie