SAVE UPTO 51% ON THE PRICE OF A NEW BIKE AND ACCESSORIES BY USING YOUR CYCLE TO WORK SCHEME TODAY!!
Using the Bike to Work scheme, your employer can help you obtain a brand new bike and safety equipment worth up to €1,250 for a regular bike, and up to €1,500 for an electric bike. You can use a salary sacrifice arrangement to save up to 51% of the retail price of bike and equipment.
IF YOU WOULD LIKE A QUOTE PLEASE CONTACT OUR SALES TEAM AND THEY WILL BE HAPPY TO ADVISE YOU ON THE CORRECT BIKE FOR YOU AND FORWARD A QUOTE.
For example if you were to spend €500 on a bike and accessories on the Bike to work scheme and you are on the higher rate of tax then the cost to you would be approximately €245. This is then deducted from your wages and depending on how your employer operates the scheme this might cost as little as €4.70 weekly if your deductions are done over 12 months.
If you were to buy a bike and qualifying accessories on the cycle to work scheme up to €700 and had your repayments over the maximum 12 months then the cost could be as little as €6.59 a week at the higher rate of tax or €9.42 on the lower rate.
Even if you were to spend the maximum €1250 on a bike and accessories then it could work out at €11.78 a week on the higher rate of tax or approx €16.58 for someone on the lower rate.
AS AN EMPLOYER WHAT DO I NEED TO???
There are lots of Bike to work Companies out there who are ‘approved’ as Cycle To Work Scheme Suppliers and virtually all of them will say they will ‘do it all for you’. They do at a cost!!!
SO WILL WE……But Without commissions or delayed processes !! What Do You Actually Have To Do To Properly Implement The Scheme?
There’s Just 5 Simple Cycle To Work Steps.
1 Make a Decision To Offer The Scheme To Employees – Once You Do You Offer It To All! You don’t have to inform revenue or anything…just do it
2 Inform Your Employees That You Are Offering The Scheme.
3 Decide how you are going to receive applications from employees for entry to the scheme e.g.
Can they just phone you and ask?
Will They E-mail HR or Accounts?
Will They have to Complete a special form and submit it by hand or e-mail
You don’t really need any of this if you don’t want to ….they are really internal systems decisions. Even if you do have any or all of the above systems……
For revenue purposes the minimum documentation you have to have on file is an invoice from a Bicycle Shop for the value of the bike and accessories to a maximum of €1000.00.
4 Once you have received the invoice by e-mail or hand you can then approve the employee for the amount in question and have them complete a Salary Sacrifice Agreement (We can give you a template agreement) which stipulates for what purpose they will use the bike and how much they will pay you back per week or month over a maximum time of 12 Months. You can choose to shorten this period if you wish….again an internal company decision.
The Salary Sacrifice Agreement is the only other document you must keep on file for the purposes of revenue
5 You then arrange to make the payment to the employees chosen Bicycle Shop You can do this in a number of ways
Post us a cheque* or give it to your employee to give to us
Transfer us the money by Electronic SEPA Transfer
Once we receive the payment and it clears we will work directly with your employee to provide them with their Bike and Accessories
And That’s That! No vouchers, No big application forms (unless you want them) just two pieces of paper. We can and will give you some automated bells and whistles e.g. online access to forms/flyers. But we like to try and keep the whole process as uncomplicated As possible.
Tel: 074 91 26728 (10am – 6pm)
Email : firstname.lastname@example.org
OR IN PERSON AT OUR SHOW ROOM,
JOHN CROSSAN BUS PK,