The cycle scheme allows employees to buy a bike and associated equipment tax free.
The employee chooses a bicycle and any associated safety equipment (up to a maximum value of â‚¬1,000) and the employer would purchase same on behalf of the employee. The employer will then recover the cost of the bike from the employee using Salay Sacrifice deductions from their gross pre-tax pay.
It is not envisaged that there will be a notification process involved, but the purchase of bicycles and associated safety equipment by employers for employees will be subject to the normal Revenue audit procedure with the normal obligations on employers to maintain records.
Bells, clips, dress guards, helmets, horns, lights, locks, mirrors, mud guards, panniers and straps, are all included, as are pumps, puncture repair kits, cycle tools, reflectors and reflective clothing. While raingear isn't covered outright, clothing that is both waterproof and reflective is covered.
There is no limit on the amount of employees in a company that can avail of the cycle scheme provided that the employer agrees to participate.
Travelhub is an independent company created to help both employers
and employees take advantage of the Green Transport Plan Initiative and
the associated tax benefits of the scheme.
Travelhub use our industry experience and trade contacts to get you riding to work on a bike of your choice from your local preferred participating bicycle shop.
Under the initiative, salaried employees who:
are employed and paying PAYE Tax in Ireland.
Travelhub customers are not limited
to any particular bike or accessory brands and therefore can choose the
best for quality and value-for-money. This results in the optimum
package of bike, accessories, and safety equipment.
Travelhub provide a single point of contact for employers and employees wishing to take up the scheme. Travelhub will assist you in setting up and running a successful Cycle to Work scheme at no cost to the employer. We can help you to get a scheme going in no time, offering great customer service and access to all the leading bike brands. The result? Better scheme uptake, and a host of organisational and individual gains.
Travelhub is also fully supported nationwide and liaise with independent bike dealers providing up-to-date literature and point-of-sale material.
Travelhub will offer full support for handling your queries, and
advice on choice of bike and safety equipment.
Travelhub partners (the cycle shops in your area who are partnering with Travelhub) will be your local port of call for test riding etc.
Once the bike package is purchased these local bike shops will also handle servicing and any warranty issues.