Cycle to work scheme – tax relief ?
This scheme aims to encourage you to cycle to and from work. Under the scheme your employer can buy a bicycle and safety equipment for you. This benefit will not be taxable.
There are three limits, depending on the type of bicycle purchased.
- €3,000 on cargo and ecargo bikes
- €1.500 on pedelecs and ebikes
- €1,250 for other bikes.
The above limits include related safety equipment.
The purchase can be made in any cycle shop. If you are a civil or public servant, the cycle shop must be on the suppliers list.
Your employer may buy the bicycle and not require you to pay for it. In this case, you will be exempt from tax on the benefit of the cost of the bicycle up to the relevant limits.
Subject to qualifying conditions
Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie