Cycle to Work Scheme
The DES has published Circular 0066/2017 relating to the Cycle to Work Scheme.
The scheme allows for the purchase of a new bicycle and/or bicycle safety equipment up to a maximum value of €1,000 once every 5 years.
The cost of the bicycle and/or bicycle safety equipment as stated on the invoice from the supplier will be deducted from salary and the employee will not pay tax, PRSI, Universal Social Charge or Pension Related Deduction on the remuneration sacrificed.
Date: Thursday, 2 November 17