Cycle/Bike to Work
Instructions
Step 1 : Add products to your cart
Step 2 : Click on checkout button
Step 3 : Fill your email, name, company name, delivery address and phone number
Step 4 : Once you fill all the details, click on “Continue Payment” button. .
Step 5: Select free shipping and select "Bike to Work Invoice" option from the payment section, Click on "Complete Order" Button. * Do remember to change the billing address to your company address
Step 6 : Open your email to view the quote from Lets Cycle. Please do check your spam or promotion tab if you haven't received it.
Submit to your HR for payment process. Once we received the money, we will automatically send the bike to your shipping address within 7 to 10 working days.
What is the purpose of the scheme?
The purpose of the scheme is to encourage more employees to cycle to and from work, or between work places, thereby contributing to lowering carbon emissions, reducing traffic congestion and improving health and fitness levels.How do I pay for the bicycle?
Your employer pays us for the bicycle and sets up a ‘salary sacrifice’ arrangement from your salary over an agreed time frame (which cannot be more than 12 months). This generally means that you visit the shop, select the equipment you wish to buy and have the shop invoice your employer directly for the cost. Note that the tax exemption does not apply if you pay for the bicycle and are reimbursed by your employer – they must pay for the bicycle.The repayment for the bicycle and equipment is then deducted from your gross salary (this means before income tax, PRSI, pension levies or Universal Social Charge are deducted). These deductions can be made weekly, fortnightly or monthly depending on your salary payment arrangement. Your employer can also buy the bicycle on your behalf and not require you to pay for it.
How much can I save?
Total Savings estimate |
|||||
| Bike Cost (1600)(1500 max) | Bike Cost (1200) | Bike Cost (800) | |||
| Tax rate 20% | Tax rate 40% | Tax rate 20% | Tax rate 40% | Tax rate 20% | Tax rate 40% |
€360 |
€780 |
€288 |
€624 |
€192 |
€416 |