What is the Cycle to Work Scheme?
The Cycle to Work Scheme is a revenue scheme that aims to encourage employees to cycle to and from work. Under the scheme, your employer can purchase the bicycle and safety equipment for you tax free. You then repay the cost from your gross salary.
Your employer will ask you to sign a statement stating that the bicycle:
- is for your own use
- will be mainly used for qualifying journeys
So, what exactly is a qualifying journey? The whole or part of a journey between your home and your normal place of work. However, don’t worry - you will be able to use your bike to destress after work and on the weekends.
Since the main purpose for purchasing the bike is for commuting to work, your new bike will be mainly used for qualifying journeys!
Please note:
The tax exemption does not apply if you pay for the bicycle and your employer reimburses you. Your employer must pay for the bicycle.
Since my company has to pay Decathlon for the bicycle, how will I pay my employer back?
Your employer can set up salary deductions from your gross salary over an agreed time frame of up to 12 months. These deductions can be made weekly, fortnightly or monthly.
Your employer may buy the bicycle and not require you to pay for it. In this case, you will not be taxed for this benefit as long as the cost of the bicycle and safety equipment do not exceed the relevant limits (these limits are listed in the next section).
What is covered under the Cycle to Work Scheme?
There are three limits, depending on the type of bicycle purchased:
- €3,000 on new cargo and ecargo bikes
- €1.500 new ebikes
- €1,250 for other new bicycles.
Please note: The above limits include safety equipment.
Customers can buy bikes above the limit and pay the balance to Decathlon once their company has made the payment. In this case we would recommend that the payment is done by Ayden payment link as it is done instantly. Unfortunately, the balance above the limit does not have any tax savings.
What accessories are included?
If you avail to the Cycle to Work Scheme at Decathlon you can add the following accessories:
1. Mudguards
2. Lightsets
3. Helmet
4. Hi Viz Vests
5. Cargo Cushions (for Cargo Bikes).
What is not included under the scheme?
The scheme does not cover:
1. Motorbikes
2. Scooters
3. Mopeds
4. Second-hand bicycles
5. Second-hand equipment
How often can I use the scheme?
You are able to avail to the scheme once every four years. This applies even if the cost of the bicycle and safety equipment was less than the limit.
Please note: The tax year in which the bicycle is purchased counts as the first year. For example, if you used the scheme during any month in 2023, you can use it again starting from 1 January 2027.
How to avail of the Cycle to Work Scheme at Decathlon?
The purchase of the bike and safety equipment can be made at our Baile Munna and Luimneach stores.
You can email cycletowork.dublin@decathlon.com to reserve your bicycle. The maximum amount of time that Decathlon will reserve a bicycle for is 10 working days so you will have to make sure your company gets payment to us within that time frame.
You cannot purchase the bicycle and safety equipment online.
Payment for the Cycle to Work Scheme can be made in 3 different ways:
1. Your company issues payments by a direct bank transfer to Decathlon.
2. Payment is made using a company credit card.
3. Your company is signed up with TaxFreeBicycles. It is important to check with your employer to see how they operate the scheme, as Decathlon currently only partners with TaxFreeBicycles.
Please see our banking details if your company issues payments by a direct bank transfer to Decathlon.
- BNP BALLYMUN STORE 1034202332.512000.IEEUR10 IE35BNPA99020640360435
- BIC: BNPAIE2DXXX
- Bank name: BNP Paribas
Please note: Make sure that your employer adds your name and invoice number to your bank EFT payment to Decathlon to avoid delay in matching payments coming to us.
Important notes:
- All TaxFreeBicycles vouchers must be emailed to cycletowork.dublin@decathlon.com, only then will we proceed to process your Cycle to Work payment.
- We will make contact with you when we receive payment, please be aware that payment can take up to 4 working days to reach our French bank account.
- We will then get your bike into a queue for a build and again make contact with you when it is ready to collect.
