There are lots of Bike Companies out there who are ‘approved’ as Cycle To Work Scheme Suppliers and virtually all of them will say they will ‘do it all for you’.
SO WILL WE……But Lets Remove Some Of The Smoke!!! What Do You Actually Have To Do To Properly Implement The Scheme?
There’s Just 5 Simple Cycle To Work Steps.
1 Make a Decision To Offer The Scheme To Employees – Once You Do You Offer It To All! You don’t have to inform revenue or anything…just do it
2 Inform Your Employees That You Are Offering The Scheme – We Will Give You a Sample Flyer With All The Information
3 Decide if you are going to receive applications from employees for entry to the scheme e.g.
- Can they just phone you and ask?
- Will They E-mail HR or Accounts?
- Will They have to Complete a special form and submit it by hand or e-mail
You don’t really need any of this if you don’t want to ….they are really internal systems decisions. Even if you do have any or all of the above systems……
- For revenue purposes the minimum documentation you have to have on file is an invoice from a Bicycle Shop (Wheelworx of course) for the value of the bike and accessories to a maximum of €1000.00.
4 Once you have received the invoice by e-mail or hand you can then approve the employee for the amount in question and have them complete a Salary Sacrifice Agreement (We can give you a template agreement) which stipulates for what purpose they will use the bike and how much they will pay you back per week or month over a maximum time of 12 Months. You can choose to shorten this period if you wish….again an internal company decision.
The Salary Sacrifice Agreement is the only other document you must keep on file for the purposes of revenue
5 You then arrange to make the payment to the employees chosen Bicycle Shop (Wheelworx of couse). You can do this in a number of ways
- Post us a cheque* or give it to your employee to give to us
- Transfer us the money by Electronic SEPA Transfer
Once we receive the payment and it clears we will work directly with your employee to provide them with their Bike and Accessories
And That’s That! No vouchers, No big application forms (unless you want them) just two pieces of paper. Anything else is really just smoke. We can and will give you some automated bells and whistles e.g. online access to forms/flyers. But we like to try and keep the whole process as uncomplicated as possible….there’s lots of other things that will complicate your day!!
For more information, or if you would like to organise an onsite promotion, call John Farrelly, Wheelworx Corporate and Retail Sales Assistant: 01 6021000 or 087 2466892 John@Wheelworx.ie
*Please allow 5 working days for cheques to clear.