What percentage can you save on the Bike to Work scheme?

Tim76

Hi,

Can anyone advise on the savings available on the bike to work scheme? For example, if my employer pays €1000 how much of the 1K do I end up paying?

And if the same percentage saving is available no matter how much you spend?

Thanks in advance!

loyatemu

up to 52% but it depends on what tax/USC/PRSI rates you are on.

loudymacloud

Tim,

depends on where you work, in my place of work i paid the full €1000, it was deducted directly from my salary over a 12 month period. The savings were then made on the amount of tax/prsi/usc etc I paid.

the money deducted from me every week was subtracted from my gross salary and was not subject to tax etc.

jon1981

You save the % tax rate you are on. So if you're on the higher rate of tax then you save 52% of the 1000e. 520

https://www.biketowork.ie/employee-information/

Wishbone Ash

Tim76 wrote: »

...And if the same percentage saving is available no matter how much you spend?

No - it is up to €1,000.

If you spend €1,000 you'll save €520 (all else being equal).

If you spend €3,000 you'll still only save €520.

Beasty

OP - please read the Charter and FAQs