Cycle To Work Scheme Belfast | About the Scheme

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About the Scheme

How the Cycle To work Scheme operates.

A bicycle and cycling equipment at half price - thanks to the UK (and Irish ) Governments!

The Cycle to Work Scheme is an initiative which has been introduced to allow employees to buy bicycles tax free, saving between 45 and 50% of the cost of the bicycle.

Employers make savings with reduced National Insurance contributions and in addition experience reduced levels of staff sick leave. With the help of Slane Cycles an experienced cycle to work facilitator, the scheme is very simple to implement.

The Cycle to Work scheme, part of “The Green Transport Plan”, brings substantial tax benefits to both employers and employees.

The Scheme is very simple to adopt and this is how it works:

The employee chooses a bike and any other necessary cycling equipment at Slane Cycles.
These are then purchased by the employer.
The employer reclaims the VAT as a business expense.
The net amount (after VAT) is then deducted from gross salaries over a 12 month period – effectively interest free to the employee.
At the end of the 12 month period, the employer has the option to sell the bicycle to the employee, for a fair market price (approximately 4% of the initial price of the bicycle).

More information about the scheme can be found on the Department for Transport Website

Slane Cycles

Cycle To Work Scheme Belfast

171A Andersonstown Road

Belfast

Co.Antrim

Northern Ireland

BT11 9EA

Phone: 029890 600040