In an age where convenience takes priority, what makes us believe the Bike to Work Scheme would appeal to businesses? At Peter O’Connor & Son Solicitors LLP, we believe the benefits of this initiative trump the short-term satisfaction of convenience. The Bike to Work Scheme is a tax incentive scheme to encourage employees to cycle to work. Continue reading as we introduce the Bike to Work Scheme.
Advantages for Employers
The more people cycle to work, the more the company saves on expensive investments like parking for cars. It also reduces time-loss due to traffic jams.
Employees who cycle are more productive and generally healthier than those who don’t. Fietserbond’s article claims that on average they take one day of sick leave less each year. This saves businesses €260 for every cycling employee. Cycling to work reduces stress and the risk of a serious illness. Healthy staff is an investment in the future of your company.
An efficient cycling policy
Employees are able to find more information on all important aspects of the cycling policy from the Bike to Work platform. The information includes cycling infrastructure within the company, company bikes, bike leasing, the highway code, and more.
It is important to stay up to date with interesting events and training courses about sustainable mobility via the calendar for employers. The Bike to Work initiative offers site visits for employers with an excellent cycling policy for participating companies.
Cost and Cover
The scheme applies to bikes and equipment up to the value of €1,250 and for pedelecs or e-bikes and safety equipment to the value of €1,500.
Employees may use the scheme once every 4 years. The four-year span between tax breaks is counted by tax year. If a person bought a bike in 2018, regardless of the month, they could buy a new bike and avail of the next tax relief in January 2022. Click here to view what equipment is covered under the Bike to Work Scheme.
Once participating in the Bike to Work Scheme you are able to enjoy discounts and advantages at sustainable merchants. Choose from services and products, varying from lifestyle, wellness, food, cycling accessories, and mobility to leisure time.
Monitoring cycling performance
To register bike trips to work, make use of a personal calendar. Track cycled kilometers, bike days, and carbon dioxide that was saved. Calculate the bike rate. As a result, one can follow personal statistics per week, month, or year and set a personal Bike to Work goal.
The benefits of cycling to work are nearly immeasurable. Physical and mental health benefits, environmental impact, and financial benefits are only a few reasons to become a part of the Bike to Work Scheme. This is why Peter O’Connor & Son Solicitors LLP has sought to facilitate staff in taking advantage of this initiative. Get in touch with us today if located in the Waterford region and in need of any legal services.