Buying a fatbike is not only a fantastic way to enjoy cycling all year round, but it can also be affordable thanks to the Bicycle Plan under the Work-Related Costs Scheme. In this blog, you will discover how to purchase a fatbike in a tax-friendly way and why this is a smart choice for both your health and your wallet.
The Bicycle Plan under the Work-Related Costs Scheme: how exactly does it work?
The Work-Related Costs Scheme (WKR) is an arrangement that allows employers to provide tax-free benefits to their employees. One of the benefits of the WKR is the Bicycle Plan, which gives employees the opportunity to purchase a bicycle, such as a fatbike, in a tax-efficient way. We have listed the benefits for you. Your employer can provide you with a fatbike tax-free up to a certain amount. This means you do not have to pay income tax on the value of the bicycle. You also have the freedom to choose the fatbike yourself, according to your needs and preferences.
This could be an Ouxi fatbike, an EB2 fatbike, or another specific brand and model of your choice. In many cases, the fatbike is considered a 'company bicycle', which means you can also use it privately. This allows you not only to cycle to work, but also to enjoy the beautiful fatbike in your free time. In some cases, your employer may choose to deduct the purchase cost of the fatbike from your gross salary. This can be beneficial because it means you pay for the bicycle with tax-free money.
How do you buy a fatbike through the Bicycle Plan?
The process of buying a fatbike through the Bicycle Plan under the Work-Related Costs Scheme is very simple. Ask your employer whether they participate in the Bicycle Plan under the Work-Related Costs Scheme and which conditions apply. Select the fatbike that meets your requirements. Consider the terrain you plan to ride on, your budget, and which color you want your fatbike to be.
Buy the fatbike from Fatbikeskopen.nl and keep the purchase invoice. Submit the required documents, including the invoice, to your employer. They will arrange for the bicycle to be processed through the Bicycle Plan. Once your employer has approved it, you can enjoy your new fatbike, both for commuting and for adventurous rides.
Conclusion
Buying a fatbike through the Bicycle Plan under the Work-Related Costs Scheme is a smart and affordable choice. It allows you to purchase a great fatbike while benefiting from tax advantages and contributing to a healthier lifestyle. Ask your employer for more information and discover how you can enjoy the freedom of cycling on a fatbike.
