Welcome to the Bike Scheme.

As a part of the Green Transport Plan, which is intended to reduce the country’s CO2 emissions, the government launched the Cycle to Work scheme on the 1st January 2009, which offers employers a tax-saving way to help provide their workforce with bikes. The cost of the bike is taken directly from the employee’s pre-tax salary, which further saves money, and is payable in twelve monthly installments. The employer saves money, the employee gets a new bike at hefty discount – everybody wins!

The bike scheme covers bicycles and accessories up to a maximum cost of €1,000. The bicycle must be purchased by your employer but the scheme can then operate either with your employer bearing the full cost of the bicycle, or by way of a salary sacrifice agreement (like the existing travel card scheme) in which you pay for it, tax free, over 12 months.

There are several different Cycle to Work programmes out there. Some are operated by large bike shop chains who stand to benefit the most from their programme. Others are tied to a list of bikes which you are forced to choose your bike from. Some are run by middlemen who create extra paperwork and costs. The 2wheels Cycle to Work Scheme is one of the few who allow you to choose any bike you want. We want our clients to get the bike that is right their needs and budget. This is our primary concern. We want you to enjoy your bike.

Participating in the bicycle scheme is easy. If your employer decides to take part, they simply buy the bike and equipment on your behalf and off you go. Its is up to you and your employer to decided whether they buy the bike outright for you or whether you pay for it via ‘salary sacrifice’. Either way you save on tax.

The scheme is flexible in its application in that your employer doesn’t have to specifically notify the Revenue Commissioners that you’re availing of the scheme and there are no Government forms to fill out. However, your employer does have to maintain the normal records such as invoices and payment details associated with buying the bike.

Cycling to work is a win-win-win situation!