Information on the government bike scheme

So… things are beginning to look a bit like spring, so isn’t it time for you to think about making use of the government bike scheme… here are the details…

The government have put in place a scheme for employers to buy bikes for their employees. Before tax. This means that if you are lucky enough to be on the top rate of tax, you can essentially get new bike at 45% off. You can also get reflectors, locks and other bike accessories.

 

Think of it like this, take the top €1,000 of your wages (the one over €35,400 and so in top rate of tax-41% plus 4% prsi, more if your a civil servant). When paying it to you the employer they give you €550 and the tax man €450. Instead your employer can spend €1000 on a bike, and give it to you. The shop owner still gets the €1000, but you only lose out by €550. The one who loses out? The taxman!

 

If you only pay the lower rate of tax, the same thing applies, but you will only be saving €250.

 

If you only want to spend a smaller amount, that’s fine too. Any number up to €1,000 is ok.

Whats the catch? New bikes only! And from a shop/supplier who is tax registered, and of your employers choosing. Most of the big bike suppliers have schemes in place to make it easy for your employer though.

 

Other points

You need your employer to administrate the scheme, and it is voluntary for them, so you have to explain to them that it won’t cost them a penny, just a bit of administrative hassle!

Your employer doesn’t have to pay employers PRSI on the money, so saving between 8.5% and 10.75% of the money spent.

You can only make use of the scheme once every 5 years.

Electric bikes are eligible. Electric bikes are limited to those with an electric motor with a maximum rated power of 0.25 kilowatts and a max speed of 25 km/h

You also need to use a bike shop who has registered for tax. No Swedish imports for you!

 

The Greens have put together a nice little website here

Raleigh have a good site here

 

6 Responses to Information on the government bike scheme

  1. Mike says:

    Just passing by.Btw, your website have great content!

  2. […] Ireland introduces a bicycle tax relief An updated version of this post with all the information you are probably looking for can be found here […]

  3. Roger Fraile says:

    Nice information, valuable and excellent design, as share good stuff with good ideas and concepts, lots of great information and inspiration, both of which we all need, thanks for all the enthusiasm to offer such helpful information here. Regards, Roger

  4. […] #split {}#single {}#splitalign {margin-left: auto; margin-right: auto;}#singlealign {margin-left: auto; margin-right: auto;}#splittitlebox {text-align: center;}#singletitlebox {text-align: center;}.linkboxtext {line-height: 1.4em;}.linkboxcontainer {padding: 7px 7px 7px 7px;background-color:#eeeeee;border-color:#000000;border-width:0px; border-style:solid;}.linkboxdisplay {padding: 7px 7px 7px 7px;}.linkboxdisplay td {text-align: center;}.linkboxdisplay a:link {text-decoration: none;}.linkboxdisplay a:hover {text-decoration: underline;} function opensingledropdown() { document.getElementById('singletablelinks').style.display = ''; document.getElementById('singlemouse').style.display = 'none'; } function closesingledropdown() { document.getElementById('singletablelinks').style.display = 'none'; document.getElementById('singlemouse').style.display = ''; } Mountain Bike Apparel – Cycling Helmet Blue – Tips, Guides, & Shipping ReviewsThe truth about Boriss London cycle hire scheme, revealed by pretty graphs you can play with – Telegraph BlogsBarclays Cycle Hire Scheme ReviewLiving the Bike Scheme DreamToday’s Recruitment Industry News October 27, 2011My Review of the London Bike SchemeInformation on the government bike scheme […]

  5. Link exchange is nothing else however it is
    only placing the other person’s weblog link on your page at appropriate place and other person will also do similar in favor of you.

  6. is.gd says:

    ・申し訳ないが「韓国製品なんか買うのが悪い」としか 童貞って言葉に過剰反応示してるの居るがマジで童貞なん?
    スペイン人からは中国人みたいに見えるらしいぜ
    冷静に見るとローラは別に色白じゃないぞ どうせ2週間ぐらいつけっぱなしだったんだろ?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: