Isle of Man News - POSTED Wed 19-12-2018

More than 400 take advantage of Cycle to Work scheme

by TH

More than 400 take advantage of Cycle to Work scheme

Employers on the Isle of Man are taking advantage of Cycle to Work tax exemption and helping their staff stay healthy.

The measure was introduced by Treasury in April 2017 as part of the 2017-18 Budget.

It enables businesses to take advantage of a benefit in kind tax exemption by buying a bike on behalf of an individual.

More than 400 transactions have taken place so far - all sales have to be completed through on-Island bike shops as part of the exemption rules.

Treasury Minister Alfred Cannan says: "Cycle to Work has proven very popular, but I’d like to invite more employers to get involved - it’s good for people’s health and wellbeing, it’s good for the local economy and it’s good for the environment.

"I would encourage businesses to look carefully at how it can benefit their workforce.

"A lot of work is also taking place around the Active Travel Strategy, which was approved by Tynwald last year, and a number of new routes and features are being developed to help more people use cycling as a means of everyday travel."

Director of Public Health Dr Henrietta Ewart says: "We need to transform our local environment to make healthy choices the easy choices ­­- and this includes encouraging people to travel on foot or by bike.

"This will help fulfil the aims of the Active Travel Strategy, and reduce obesity. More importantly, it will translate to positive health outcomes for people who take up a more active lifestyle."

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