Peter Scanlon, the owner of Kilkenny Cycles, has been repairing bikes since 1961. He opened his bike store 18 years ago and his son in law Andy manages the store with him.
Kilkenny Cycles, based on Lower Michael Street, sells bikes, helmets, racing outfits and all kinds of accessories from pumps, gloves, saddlebags, and mileage computers and so much more. Mr Scanlon not only deals with the retail of bikes and equipment but in repairs. Regardless of where your bike was bought, if there’s a problem he will do his best to fix it.
In an effort to help during this recession Mr Scanlon has introduced the new government bike scheme into his store.
January of this year the government launched a bike scheme to encourage people to cycle to work.
The new bike scheme covers bicycles and accessories up to a maximum cost of €1,000. The bicycle must be purchased by your employer but the scheme can then operate either with your employer bearing the full cost of the bicycle, or by way of a salary sacrifice agreement (like the existing travel card scheme ) in which you pay for it, tax free, over 12 months.
Participating in the bicycle scheme is easy. If your employer decides to take part, he/she simply buys the bike and equipment on your behalf and off you go. It is up to you and your employer to decided whether they buy the bike outright for you or whether you pay for it via ‘salary sacrifice’. Either way you save on tax.
The scheme is flexible in its application in that your employer doesn’t have to specifically notify the Revenue Commissioners that you’re availing of the scheme and there are no government forms to fill out. However, your employer does have to maintain the normal records such as invoices and payment details associated with buying the bike.
For further details on this new scheme and all bike queries contact Mr Scanlon today on (056 ) 7764374.
