Limits Increased for the Cycle to Work Scheme

The aim of this incentive is to encourage workers to cycle to work and the cost will not be a taxable benefit-in-kind (BIK).

These changes are effective from 01^st of August 2020.

The limit for traditional pedal bikes including safety equipment was €1000 and this has now been increased to €1250.  For pedelecs or ebikes and related safety equipment the limit is €1,500.

The following safety equipment, when purchased with a bicycle, are also covered by this scheme:

- Helmets-

- Bells & Bulb Horns

- Lights, including dynamo pack

- Mirrors and mudguards

- Cycle clips and dress guards

- Panniers, luggage carriers and straps

- Locks and chains

- Pumps, puncture repair kits, cycle tool kits and tyre sealant

- Reflective clothing, white front reflectors and spoke reflectors

This scheme can be utilised once every 4 years or once every 5 years prior to 1^st of August 2020.

The tax year when the bicycle is purchased will be deemed as the 1^st year.

If you are interested in learning more about this scheme or which to proceed, please contact your Payroll Account Manager and they will be happy to assist!