Cycle to Work Scheme

How it works

You can save up to 49.5% on a new bike with the Cycle to Work Scheme.

Step 1

Choose a bicycle and any accessories up to the value of €1,000.

Step 2

Bring the invoice to your employer.

Step 3

Your employer then pays for the invoice and you can collect your bicycle.

For more information about the scheme call +353 86 826 2300 or
email info@cyclepower.ie. You can also visit the citizens information website here.

Savings calculator

The below information is EXAMPLE information. Actual savings will depend on each individuals personal circumstances.

Basic rate taxpayer
20% tax + 4% PRSI + 5.5%USC = 29.5% saving

Bicycle and accessories = €1,000
Tax relief saving @ 29.5% = €295
Net cost = €705 split across 12 months = €58.75 per month

High rate taxpayer
40% tax + 4% PRSI + 5.5%USC = 49.5% saving

Bicycle and accessories = €1,000
Tax relief saving @ 49.5% = €495
Net cost = €505 split across 12 months = €42.08 per month