With effect from 1 January 2020, the new scheme is for the company bicycle scheme is now in force. The RAI Association has made a database available online, which contains the catalogue values of bicycles (the RAI bicycle portal).
Additional tax liability 7%
The new scheme relates to bicycles made available to employees by their employer. The employer remains the owner of the bicycle. The employee is permitted to use the bicycle for both business purposes (usually for commuting) and private journeys.
The private use of such a company bicycle constitutes remuneration in kind. This remuneration is valued at 7% of the bicycle’s value. This refers to the new value of the bicycle, as quoted by the supplier or importer. This “list price” can be found in the database.
Company bike
Would you like to find out more about the benefits of a company bike? See our factsheet Company bike.