400 more people cycling to work

Wed, 19 Dec 2018

Employers are taking advantage of the Isle of Man Government’s Cycle to Work tax exemption and helping staff stay healthy.

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

The change was designed to improve the fitness and health of Island residents and 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, with all sales having to be completed through on-Island bike shops as part of the exemption rules.