Who is eligible for the tax exemption?
Employees are eligible for the exemption through the participation of their employer, who must operate the scheme. The cost of the bike can be funded either directly by the employer or through a salary sacrifice arrangement with the employee. If the bicycle is purchased directly by the employer, it can be claimed as a tax exempt benefit in kind. Where it is financed via a salary sacrifice, the employee saves on income tax, levies and PRSI.
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