UCD Bikes accepts the bike to work scheme as payment for our bicycles. The Cycle to work scheme was set up by the Irish government to allow employers to purchase commuting bikes for their employees.
These bikes are available tax-free and the employee pays back the cost of the bike in incremental instalments through their pay checks.
These incremental repayments are not subject to tax, PRSI or the USC. This means employers can purchase a bike at a lower cost than buying it directly.
This scheme doesn’t just cover the actual bicycle, bike accessories – including safety equipment – can also be purchased through this scheme.
How much can I get on the Cycle to Work Scheme?
For standard bikes, you can get up to €1,250. For electric bikes, you can get up to €1,500.
How often can I use the Bike to Work scheme?
The bike to work scheme can be taken advantage of every five years.