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Cycle to Work Scheme

Please note that the Application date for the October 2012 Cycle to Work Scheme is now closed.

UCD is pleased to offer the Cycle to Work Scheme for staff effective 1st April and 1st October each year . Please see below comprehensive details on how the scheme operates and on how as a staff member you can participate in the 2012 scheme. UCD HR is working in partnership with a company called Bike To Work Ltd. to administer the scheme.   

 

Overview

The Cycle to Work Scheme allows staff to purchase a bicycle and associated equipment tax free up to the value of €1,000. The scheme is open to all permanent, indefinite duration and fixed term staff. The intention around the scheme is to encourage more staff to cycle to work. The exemption from income tax in respect of benefit-in-kind can only be availed of once in any five year period. As part of the UCD commuting strategy, the scheme will be made available twice annually in April and October.

The tax incentive works like the existing Travel Pass Scheme through a salary sacrifice arrangement whereby the University bears the full upfront cost of the bicycle/equipment and the staff member pays back through salary deduction, normally over a 12 month or 52 week period.

If you intend to participate in the scheme please ensure that you read and follow the steps below.

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How it Works

Full instructions on the scheme for UCD staff are also available at the Bike to Work microsite for UCD.

Step 1: Print off the Bike Shop Quotation form (PDF version also available).

Step 2: Select one of the participating bike shops. On visiting the shop to select your chosen bike and/or equipment you must present a print-out of the Bike Shop Quotation form to the shop staff. This should be done prior to selecting your bike and/or equipment. The bike shop will prepare a written Bike to Work Ltd quotation (not greater than the €1,000 limit) for you. Take care not to lose this quotation as you will need it to process your application online.

Step 3: To proceed to purchase, you must return to Bike to Work microsite for UCD and submit your quotation online.

Step 4: Print off, complete and return the Cycle to Work Scheme 2012 - Application & Agreement Form to:

Cycle to Work Scheme
UCD HR
Roebuck Offices
Belfield
Dublin 4 

All applications for October 2012 must be received no later than 5pm on Wednesday 12th September 2012 and failure to complete this application & agreement form will result in your application being cancelled.

 .Step 5:  UCD arranges for payment of your chosen bicycle/equipment once your Purchase Agreement form is received and processed by UCD HR.

Step 6:  Bike to Work Ltd will send you a voucher email on or before 28th September 2012 with which you can redeem your bicycle and/or equipment.

You will be required to present photographic ID (UCD staff card, Passport or Driving Licence) and the voucher email when collecting your bicycle and/or equipment.

Step 7: Deductions from your salary will commence from 1 October 2012.

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Relevant Forms & Documents

 

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FAQs

  • Will a staff member be able to avail of the exemption where an employer spends in excess of €1,000?

Yes, but only the first €1,000 will be exempt from the benefit-in-kind charge to income tax.

  • Where an employer incurs an expense of less than €1,000 in year one in the provision of a bicycle and/or associated safety equipment, will the staff member be able to claim exemption from the benefit-in-kind charge in respect of the difference between €1,000 and the amount spent by the employer, within the 5- year period?

No. A staff member can only avail of the exemption once in every 5 years. It does not matter that he or she may have been exempted from a benefit-in-kind charge for an amount less than €1,000. The exemption is available once in every 5 year period.

  • Will the exemption apply to expenditure incurred by an employer in the purchase of bicycle parts rather than a whole bicycle?

No. The exemption only applies to expenditure incurred in the purchase of a whole bicycle or associated safety equipment.

  • Will the exemption apply where the employer does not provide bicycles but incurs expenditure on the purchase of bicycle safety equipment?

Yes. The rules regarding the €1,000 limit on expenditure and the availability of the exemption once in every 5-year period will apply in the case of bicycle safety equipment, as it will in the case of bicycles.

  • Can a staff member buy the bicycle/safety equipment and get a refund from his or her employer?

No. The employer must purchase the bicycle/safety equipment.

  • Where can a bicycle/associated safety equipment be bought?

The UCD scheme applies to bicycles and equipment available from any shops that are signed up to Bike to Work Ltd only http://www.biketowork.ie/bike-shops/ .

  • Will there be any minimum threshold on the amount of days a bicycle must be used?

There will be no threshold on the amount of days a bicycle should be used. However, the bicycle must be used mainly for qualifying journeys (i.e. travelling to and from work or between work places).

  • If the employer incurs delivery charges in respect of the bicycles/safety equipment, will these be covered by the exemption?

Yes, provided the maximum value of the benefit, including delivery charges, does not exceed €1,000. The exemption is limited to the first €1,000 - where the cost exceeds this amount, a benefit-in-kind income tax charge will apply to the balance.

  • When and how will I receive my voucher for my chosen bike?

The voucher for your chosen bike will be sent directly by email from Bike to Work Ltd, to the email address provided to them on your Quotation Form. This will be sent to you once your application has been processed by UCD HR.

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Contact Bike To Work Ltd.

All queries relating to the Cycle to Work Scheme should be directed in the first instance to Bike to To Work Ltd. info@biketowork.ie.

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