Here at Roycroft Cylces we understand how important it is to have the right cycling gear, whether it's for comfort, safety or style!
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Bike To Work
Bike To Work
Bike To Work
Tax deductable bicycles under the cycle to work scheme
- Savings of up to 52% on the cost of a new bicycle and associated safety equipment (see sample chart below)
- Payments can be made as part of an agreed salary sacrifice with your employer a 12 month period
- Expenditure of up to €1000 on a bicycle and associated safety equipment is covered by the scheme
- You can avail of this scheme once every 5 years
- Get fit and stay healthy, contribute to the environment
At Roycroft Cycles we are approved suppliers for the scheme and we can
- Offer special discounts for purchases under this scheme
- Allow you to try different bicycles before you buy
- Complete all necessary forms for you
- Deliver your bicycle for you
Sample Savings
41% tax payer subject to PRSI of 4% and USC of 7% (52%)
| Bike Gross cost Incl. Equipment | €300 | €500 | €1000 |
|---|---|---|---|
| Monthly Equivalent Cost | 25.00 | 41.67 | 83.33 |
| Tax Savings | |||
| PAYE | 10.25 | 17.08 | 34.17 |
| PRSI | 1.00 | 1.67 | 3.33 |
| USC | 1.75 | 2.92 | 5.83 |
| Total Tax Savings | 13.00 | 21.67 | 3.33 |
| Net Monthly Cost After Tax Savings | 12.00 | 20.00 | 40.00 |
| Annual Net Cost After Tax Savings | 144.00 | 240.00 | 480.00 |
| ON THE LIST PRICE YOU SAVE | 156.00 | 260.00 | 520.00 |
20% tax payer subject to PRSI of 4% and USC of 7% (31%)
| Tax Savings | |||
|---|---|---|---|
| PAYE | 5.00 | 8.33 | 16.67 |
| PRSI | 1.00 | 1.67 | 3.33 |
| USC | 1.75 | 2.92 | 5.83 |
| Total Tax Savings | 7.75 | 12.92 | 25.83 |
| Net Monthly Cost After Tax Savings | 17.25 | 28.75 | 57.50 |
| Annual Net Cost After Tax Savings | 207.00 | 345.00 | 690.00 |
| ON THE LIST PRICE YOU SAVE | 93.00 | 155.00 | 310.00 |