Company bike – any bike from any bike shop
Get it easily and effortlessly through FleetBike
More information for employees
More information for employers
What is a company bike?
A company bike is a fringe benefit which an employer offers their employee. It allows the employee to acquire a new bike through their employer. The company bike is a tax-free benefit, so it is not counted as part of the employee’s taxable income. Bikes purchased through FleetBike are bought on a leasing contract, so Fleet Innovation deals with all the administration related to the bikes.
Quick facts about FleetBike company bikes
You can purchase a FleetBike company bike from any Finnish bike retailer or the Canyon online shop.
The employee can choose any bike worth €600–€4000. If the bike is more expensive than this, the employee will pay the difference.
The cyclist receives an annual tax benefit of €1200, i.e. salary in the form of a bike, which is tax free.
FleetBike’s administration fee, which the employer pays, is only €15 per bike per month.
Insurance is included in the FleetBike contract.
The employee can redeem the bike at the end of the contract period.
Does your employer already have a contract with FleetBike and you would like a company bike?
How does the FleetBike bike benefit work?
FleetBike is a simple way to offer your employees a bike benefit. Once the initial agreement and policy are in place, the employees take care of everything to do with buying the bike directly with the FleetBike team. This means that, going forward, the employer has no additional administrative work to do regarding company bikes.
Steps for the employer
1. Signing a FleetBike contract with Fleet Innovation.
2. Creating a bike policy, i.e. guidelines for the company bike benefit, in collaboration with Fleet.
3. Informing the employees about the benefit, Fleet organises a launch.
Steps for the employee
1. 1. The employee reads their company’s bike policy and fills out a bike purchasing form on Fleet’s website.
2. Fleet sends a sales contract to the employee for their electronic signature.
3. Once the contract has been signed, the employee will receive confirmation of this via email and can start bike shopping.
4. Once the employee has chosen their bike, the bike retailer makes an invoicing request to Fleet.
5. Once the retailer has received permission to invoice, they will invoice Fleet and hand over the bike to the employee.
How does a company bike impact taxation?
The tax benefit of a company bike purchased through FleetBike is €1200 per year. If the benefit is offered as part of your salary, the value of the benefit (€100 per month) is deducted from your monthly salary. This reduces your tax rate as you are receiving part of your salary as a tax free benefit. If the bike benefit is offered on top of your salary, your tax rate will remain the same as you are basically receiving a tax free raise in the shape of a company bike.
“The process was surprisingly simple. The bike shop basically took care of everything through Fleet Innovation. All I needed to do was to go and choose a bike, and then pick it up a week later.”
Ville Kouva, Mitta Oy
“The company bike option reduced the threshold of buying a better bike. Otherwise I would have probably bought a bike of the same model but with cheaper parts. The company bike benefit makes it possible to buy a high quality bike at a lower price, and it makes the process easy and carefree.”
Esa Parkko, Fortum Power & Heat
“The main factors in my decision to buy a bike were the savings and how easy the purchase process was. When choosing how to get around, I have prioritised my practical needs and wishes. Exercise is good for you, and these days we can no longer ignore the issue of what impact our consumption has on the environment. Each kilometre that I travel by bike rather than by car is a saving for me and for the environment.”
Jani Moisala, Tietoevry
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