Bike to work scheme calculator Ireland

The limit is €1,250 for a standard bike, €1,500 for a pedelec or e-bike and €3,000 for a cargo or e-cargo bike. The limit covers the bike and its safety equipment. If the cost is higher, only the limit is relieved and you pay the rest from your net pay. Revenue sets out the rules for the Cycle to Work scheme.

The calculator works out your take-home pay with and without the salary you give up, using the current income tax, USC and PRSI rules. The difference is your saving. This reflects the bands and thresholds you actually fall into, instead of an assumed flat rate. The real cost of the bike is its cost less that saving.

The scheme relieves income tax, USC and PRSI, but only where you would otherwise pay them. On a salary of €12,000, a €1,000 standard bike saves nothing, because that income is below the point where income tax, USC or PRSI apply.

You repay your employer through deductions from your gross salary over no more than 12 months. The calculator shows the monthly deduction over 12 months. You can use the scheme once every four years.

No. The scheme works through your employer's payroll, so it is for employees whose employer takes part. The calculator assumes a single PAYE worker with standard credits and no pension contributions.