Bike to work scheme – changes
There has been changes to the bike to work scheme following the stimulus package last week
The bike to scheme is an exemption from benefit in kind on expenditure incurred by an employer in
connection with the provision of a bicycle and or safety equipment to an
employee or director, up to a specified limit.
The bicycle must be for the employee/director’s personal use in undertaking the whole or part of the
journey to or from work.
Safety equipment includes helmets, lights, bells, mirrors and locks but does not include child seats or trailers.
The limit on allowable expenditure will be increased from €1,000 to €1,500 in respect of pedelecs (‘ebikes’) and related safety equipment and €1,250 in respect of other bicycles and related safety equipment.
The scheme currently allows the purchase of a new bicycle once in any 5 years and this will be amended to once in any 4 years
Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie