The purpose of the scheme is to encourage employees to cycle to and from work. Under the scheme an employer may provide an employee with a bicycle and safety equipment without an employee being liable for benefit in kind subject to a limit of €1,000. The scheme may be implemented under a salary sacrifice arrangement through the employee’s payroll. The full cost must be recovered within a period of twelve months or less. The employee can avail of this scheme once every five years. The bicycle and safety equipment are exempt from tax therefore the employee […]