bike4work
• Support environmentally friendly forms of Transport
• Help to encourage a fit and healthy Workforce
• Provide an innovative benefit to your employees
Bike4work by Bonusbond is a government-backed initiative designed to encourage people to use environmentally friendly forms of transport when traveling to and from work.
The Bike4work initiative gives the opportunity for your employees to ‘sacrifice’ part of your salary in return for the use of a bicycle, which should be used primarily for part or their entire journey to work. Under the scheme, employees do not pay either Income Tax or PRSI on the price of appropriate bicycle and safety equipment. Employees can save either 27% or 47% on the normal price (dependant on their marginal tax rate).
Grass Roots already manage many Bike4work schemes in the UK for major blue chip employers and now have pleasure in offering a similar scheme to employers in the Republic of Ireland.
Employee benefits:
Income tax and PRSI savings are made when an employee elects for bicycle and safety equipment predominantly used for work purposes.
• Employees choose appropriate bicycle and safety equipment from a participating Bike4work by Bonusbond retailer, for the value they have selected
• Employees spread the cost of commuting
• Employees enjoy the health benefits of commuting to work
Employer benefits:
• The employer is offering a tangible benefit to their workforce
• Zero cost to the employer
• Relieve pressure on corporate parking and traffic congestion
• Encourages a healthier workforce
• Goods remain property of the employer until term is over, encouraging staff loyalty
• The employer saves PRSI contributions on the portion of salary sacrificed by participating employees
Bike4work by Bonusbond handle all the relevant Salary Sacrifice documentation, despatches all relevant paperwork to your employees and they redeem using the Bike4work by Bonusbond independent retail network.
For more information please contact Bike4Work or telephone 01 2936200+