The bike scheme was introduced on 1st January 2009 to encourage people to cycle to work more frequently. Electric bikes are also covered under the scheme. Cycling an electric bike is a great way to keep you fit and healthy – and it’s kinder to the environment.

The bike scheme allows for an electric bike and accessories up to a value of €1,000. The electric bike is purchased by your employer, but the details of the arrangement are left up to you and your employer. Either your employer bears the full cost of the electric bike, or you pay the money back by way of a salary sacrifice agreement, tax free, over 12 months.

If your employer decides to take part in the bike scheme, they simply buy the electric bike and equipment on your behalf and away you go! Your employer is not required to specifically notify the Revenue Commissioners that you are availing of the bike scheme and it is not necessary to fill out any forms. Your employer just has to maintain the normal business records such as invoices and payment details associated with buying the electric bike.

for more information refer to bikescheme.ie