Employees may avail of a bicycle and cycling equipment from their employers with the bike to work scheme. The cycle scheme is part of the Green Transport Plan that aims to modify the travel behaviour of citizens and encourage them to use bicycles, the most eco-friendly mode of transportation, instead.
How do you get a bicycle and cycling gear from this scheme? Here’s a quick guide on how to.
Your employer signs up for the cycle scheme. You can obtain a bicycle and cycling equipment from this scheme only if your employer signs up for the scheme. Enquire as to whether this is available from your employer.
You get the microsite address. In most cases, an organisation has a scheme administrator who gives employees the microsite address. This is the way to communicate with the third party provider of the scheme.
You choose the bicycle and the cycling equipment from a participating bike shop. You may find such a shop in your locality from the online resource of the third party provider. Visit the shop and select the bicycle and the safety equipment you need.
You submit the written quote to the microsite. After you have made your selection, the bike shop will give you the written quote for the package. You need to submit this quote to the microsite of the provider.
Your employer is sent the invoice for the bike package by the third party provider. It is the responsibility of the employer to pay for the bicycle and the cycling gear. The third party provider sends the details of the purchase to the employer.
You read and sign the agreement and submit it to your employer. You have to sign the purchase agreement before the employer pays for the bike package. Check every detail of the agreement and clarify any details you do not understand before you sign it.
Your employer pays for the bike package. After you sign the purchase agreement, the employer pays for the purchase. They will recover the costs from the salary sacrifice arrangement, which you agree to, and also profit from the tax savings and PRSI.
You get the voucher that you can redeem to obtain the bicycle and the cycling gear. After your employer pays for the package, you are sent a voucher. You have to show this voucher to get the bicycle and cycling safety equipment from the bike shop.
The process to obtain the bike package may differ from one provider to another.
Why will you opt for this scheme? Before you make any decision in this regard, you need to have an idea about the ways in which the Government bike to work scheme benefits you. As you agree to a lowered salary when you participate in this scheme, you pay lower taxes. Moreover, you also save on your PRSI payments.
The health benefit of cycling to work cannot be ignored as well. This scheme gives you the opportunity to exercise regularly. As a bicycle does not burn fuel and emit poisonous fumes, it is also a better alternative for travelling to and from work.
Alias Hamilton is an experienced supplier participating in the HMRC cycle to work scheme. If you are looking for more details regarding the way the cycle 2 work scheme operates, he suggests you to visit http://www.biketowork.co.uk/.