What Can I Save?
Calculate your savings
Our calculator can show you the big savings you can make when you join the scheme. The cost calculator is to be used as a guide only, as savings can depend on individual personal taxation circumstances.Great benefits of the Halfords Cycle2Work scheme
Below are examples of how you can make savings for a bike and safety accessory package, dependent on whether you are a basic or higher tax rate payer. Bike and accessory packages can start from as little as €100 to a maximum of €1000.
Every employee’s circumstances are different and savings will depend on your personal taxation.
When you choose a bike and safety accessories to the value of €500 (retail price), you will pay €29.17 per month saving you a total of €150 off the original retail price. This would cost you €350 over 12 months whilst benefiting from €500 of equipment.
This is how it’s broken down:
Example savings
| Bike and Accessory Purchase | €200 | €500 | €700 | €1,000 |
| Monthly Salary Sacrifice Deduction | €16.67 | €41.67 | €58.33 | €83.33 |
| BASIC RATE TAXPAYER | ||||
| Income Tax Saving | €3.33 | €8.33 | €11.67 | €16.67 |
| PRSI Saving | €0.67 | €1.67 | €2.33 | €3.33 |
| Health Levy Saving | €0.67 | €1.67 | €2.33 | €3.33 |
| Income Levy Saving | €0.33 | €0.83 | €1.17 | €1.67 |
| Net Cost Per Month | €11.67 | €29.17 | €40.83 | €58.33 |
| Total Net Cost Over 12 Months | €140.00 | €350.00 | €490.00 | €700.00 |
| Total Savings Made | €60.00 | €150.00 | €210.00 | €300.00 |
| Percentage Saving | 30% | 30% | 30% | 30% |
| HIGHER RATE TAXPAYER | ||||
| Income Tax Saving | €6.83 | €17.08 | €23.92 | €34.17 |
| PRSI Saving | €0.67 | €1.67 | €2.33 | €3.33 |
| Health Levy Saving | €0.67 | €1.67 | €2.33 | €3.33 |
| Income Levy Saving | €0.33 | €0.83 | €1.17 | €1.67 |
| Net Cost Per Month | €8.17 | €20.42 | €28.58 | €40.83 |
| Total Net Cost Over 12 Months | €98.00 | €245.00 | €343.00 | €490.00 |
| Total Savings Made | €102.00 | €255.00 | €357.00 | €510.00 |
| Percentage Saving | 51% | 51% | 51% | 51% |
Employees
- Savings (up to 51%) on new bike and safety accessories*
- Free Bike Care Plan when you join!
- Lowest price guarantee*
Employers
- It's free to set up!
- Halfords has years of experience in running C2W schemes