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Well, here's why you should (and what you need to know.)Well, anyone. Essentially, the employer buys the bike – and so they get to decide where you buy it.
You have to be a full- or part-time employee and you have to be paying tax in the Republic of Ireland. Some employers who choose to partake in the Bike to Work scheme will give you a specific shop or chain of bike shops from which you can chose your bike, and they'll have arrangements in place for delivery and invoicing.
Make no mistake – this is not a way of getting a free bike. So if your boss says they're not into it, er, they're not into it.
So for a bike costing €600, an employee on the higher rate will save €312 and their employer will save €64.50 in PRSI.
However if they do, they must offer it to all their employees.
The scheme covers the purchase of bicycles and equipment up to the value of €1,000 from approved suppliers and you can avail of the bike to work scheme once in a 5 year period.
It's been seven years since the Bike to Work scheme launched, promising to revolutionise Ireland's commuter traffic by incentivising cycling to work – offering tax breaks for employees and employers who purchased bikes, obviously with the intention of cycling to work on them.
For some savvy employees, they might be on bike number two – you can apply once in every five-year – but for others, they may never have applied.For more information, please see the Revenue site: download the the leaflet below.