Bike to Work scheme in Ireland—few things to know
It is not a new idea. It is not exclusive to Ireland as well. Nevertheless, the Bike to Work scheme still raises doubts and questions about its practical value for an average commuter. In this article, we will clear some things out.
How does the program work?
The Bike to Work scheme in Ireland is an initiative designed to encourage people to cycle every day by providing tax incentives. Under this project, employers can provide employees with bicycles and additional equipment up to the value of €1,250 (or €1,500 for e-bikes) without deducting tax or PRSI (Pay Related Social Insurance). This means that employees can save money on their bike purchase while promoting healthier commuting habits and reducing carbon emissions.
The bike to work scheme is available to all citizens who pay income tax. Employers must register for the scheme through the Revenue Commissioners. And, since the bike purchase is exempt from tax and PRSI, the employee benefits from a reduction in the overall cost of the bike. Furthermore, employees can either buy the bike outright or pay for it through salary deductions over a maximum period of 12 months. And what about usage limitations? Although the bike and related equipment must be used mainly for commuting to and from work or for work-related purposes, nobody will create a problem if a commuter decides to have a ride during a sunny weekend.
What to buy within the Bike to Work scheme?
The program can include a variety of bicycles and safety equipment, such as helmets, locks, and lights. To participate, an employee must obtain a quote from a registered bike retailer, and employers must facilitate the purchase process. Nevertheless, the best e-bikes might not fit overall requirements. The cost limitation alone impacts the choice. Does this mean only low-quality bikes are available?
Absolutely not! Within the price range, there are plenty of excellent bikes for commuting that are both reliable and safe. These are city e-bikes, for example, with enough power to move comfortably throughout a typical business day in a city, town, or village. It is also worth mentioning that a person can buy a dream bike for the full price and get additional equipment with cost reductions provided by the scheme.
Summary
The Bike to Work scheme is a great way to promote cycling in Ireland as a sustainable transport option. It might not be possible to acquire a top-notch electric bike through the program, but a good quality e-bike is still in its reach. Accessories are available through the scheme as well.
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