Bike to Work Rates Explained
As part of the 2022 Finance Bill the government has announced an increase to the limit for Cargo Bikes in the revised Bike to Work Scheme. Individuals are now able to receive an allowance of up to €3,000 towards the purchase of a Cargo bike.
How much can I spend on the Bike to Work Scheme, and how often can I use it?
There are 3 limits depending on the type of bike you bought. The limit (including related safety equipment) is: €3,000 for cargo and e-cargo bikes. (NEW) €1,500 for pedelecs and e-bikes. €1,250 for other bicycles.
What is a Cargo Bike?
The definition of a cargo bike in relation to the Bike to Work Scheme is contained in Section 8 of the Finance Bill 2022. This provides that “cargo bicycle” means a bicycle with a special purpose frame which has been designed to carry large or heavy loads, or passengers other than the rider, by means of a bulk storage capacity container or platform integrated into, or affixed to, the frame of the bicycle, in front of or behind the rider. Cargo bikes can be applied for through the Bike to Work Scheme from the 1st of January 2023. Contact us now at Westport Bike Shop for more information!
How often can I use the Cycle to Work Scheme?
As an employee, you can use the scheme once every 4 years. The four-year span between tax breaks is counted by tax year. If you bought a bike in 2020, regardless of the month, you could buy a new bike and avail of the next tax relief in January 2024.
How to Buy Through The Cycle to Work – It’s Easy!
Shopping online for your Bike to Work with Westport Bikes is quick and easy.
Just follow these simple steps:
- Click the Bike to Work Application Button and fill in the required fields.
- Add the names/models of the bike and accessories you would like to purchase.
- Once you submit the Application Form, we will receive a notification and return to you with a quote for your items.
- Send the quote to your employer so they can arrange payment.
- Once approved and the payment processed, we will get in touch and you can arrange collection of your bike in-store or we can arrange delivery of your new purchase.
Need assistance? Give us a call on 098 24966, email us at info@westportbikeshop.ie, or read on for more info – we’re here to help!
See what’s included and Make The Next Move
What Equipment is Eligible on Cycle to Work Scheme?
- New bikes and tricycles
- New electric bikes
- Cycle helmets
- Bells and horns
- Lights (including dynamo packs)
- Mirrors
- Mudguards and skirt guards
- Cycle clips
- Panniers, luggage carriers and straps
- Locks and chains
- Pumps
- Puncture repair kits and tool kits
- Reflective clothing
- Bike reflectors
Browse the Cycling Equipment on Offer
Bontrager XR Endurance Elite Recycled Grip Set
€39,99
Trek Marlin 7 Gen 3 | Pennyflake
€1.189,00
Trek Dual Sport 1 Hybrid Bike Mercury Grey
Original price was: €719,00.€599,00Current price is: €599,00.
Got questions about the scheme?
Well, we’ve got answers
There are 3 limits depending on the type of bike you bought. The limit (including related safety equipment) is:
€3,000 for cargo and e-cargo bikes. (NEW)
€1,500 for pedelecs and e-bikes.
€1,250 for other bicycles.
As an employee, you can use the scheme once every 4 years. The four-year span between tax breaks is counted by tax year. If you bought a bike in 2020, regardless of the month, you could buy a new bike and avail of the next tax relief in January 2024.
You can put the amount granted towards E-Bikes, Cargo and E-Cargo Bikes plus regular road and gravel bikes. It can also be used toward safety equipment and bike accessories.
First thing to do is make sure your employer can facilitate the scheme. Then, contact the team here at Westport Bike Shop and we will help you organise the rest. Simple as that!
The benefits to the Cycle to Work Scheme and to cycling in general are multiple.
You are first and foremost doing your bit for a Greener Environment but along the way you are going to get fitter cycling and also save money doing it.
It’s a no brainer really!
