Improve your health, fitness and morale
Welcome to Raleigh2Work, we are here to help you take advantage of the recent Government initiative offering tax free bikes for cycling to work. Using the
Raleigh2Work scheme, your company can purchase a brand new bike and safety equipment worth up to 1,000 euro tax free, for your employees. You can use a salary sacrifice arrangement to allow your employees to pay for the bike monthly. This means that means that the employees saves up to 51% if you are on the higher tax rate, of the retail price of bike and equipment but your company also makes savings.
What are the benefits to the employer?
There are countless benefits for a company to introduce its own cycle to work scheme:
- Improving Your Company’s Environmental Image
Encouraging cycling to work reduces carbon pollution and shows the employer has a keen interest in the well-being of the local community and environment. This will improve the company’s corporate image and levels of corporate social responsibility.
- Improving Staff health, fitness and morale
A healthier, fitter workforce means better performance at work and fewer sick days being taken. Furthermore, the employer is seen to be concerned about employee’s welfare. The Scheme also offers a tangible benefit to staff in addition to the basic salary package.
- Reducing Parking and Congestion Problems
Relieve pressure on corporate parking and traffic congestion.
Introducing a cycle to work scheme will reduce traffic congestion and subsequently pollution on the roads in the surrounding area. Furthermore, fewer allocated spaces will be needed in the workplace for parking thus reducing the company’s exposure to the recent 200 euro car parking tax.
As there is no financial cost to the employer, all of the above only stand to improve the company’s competitive advantage as an employer and within the market place. Even better, the monthly ‘salary sacrifice’ comes from the employees’ gross salary – which is not subject to Employers Pay Related Social Insurance – employers save money too!
Raleigh2Work can visit your company to help employers promote the Cycle to Work Scheme. This involves Raleigh2Work visiting work locations to advise staff on how the cycle to work scheme works, display some of the types of bikes on offer under the scheme and answer individual questions as to which bike may be more suitable to the individual . Furthermore Raleigh2Work can also eliminate any worries of extra work involved by managing the main part of the scheme administration. Your employees could actually have their bicycles in just a few days! .
Your employees visit their local participating bike shop (Listed on the website www.raleigh2work.ie) to choose their equipment and obtain a written quote to give to the employer. The employer will send Raleigh2Work a purchase order with the details of the quote and we will send the employer an invoice. Once payment is made for the bike package by the company a secure voucher will be sent to Human Resources for collection by the employee. This voucher is redeemed at the bike shop and the employees collect their goods. The employee then starts to pay back the money from gross salary, via salary sacrifice.
Key Steps
- Your company signs up for the Raleigh2Work scheme.
- Your employees visit their local participating bike shop to choose their equipment and obtain a written quote.
- Return the quotation to your HR scheme administrator to forward to
Raleigh2Work to request a voucher.
- Once the voucher is requested Raleigh2Work will invoice your company for the bike package.
- Purchase Agreement is sent to the employee for completion.
- Once payment is made for the bike package by the company a secure voucher will be sent to Human Resources for collection by the employee.
This voucher is redeemed at the bike shop and the employees collect their goods.
- The employee then starts to pay back the loan from gross salary, via salary sacrifice.
Frequently Asked Questions |
