The contents of Tax and Duty Manual Part 05-04-08 – Provision of bicycles and associated safety equipment by employers to directors and employees – have been updated to reflect some changes to the Cycle to Work scheme which have been made by the Financial Provisions (Covid-19) (No. 2) Act 2020.
These changes increase the exemption limit from €1,000 to €1,250 or, in the case of electric bikes, to €1,500 for employer expenditure on the provision of bicycles and associated safety equipment, and also enable employees to avail of the scheme more frequently.