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Cycle To Work Benefit

  • 04-01-2008 10:39am
    #1
    Raam
    Registered Users, Registered Users 2 Posts: 14,318 ✭✭✭✭


    http://www.paulgogarty.com/site/index.php?option=com_content&task=view&id=298&Itemid=51
    Cycle to Work Scheme
    Wednesday, 21 November 2007
    To ask the Tánaiste and Minister for Finance his views on introducing a cycle to work scheme similar to the UK where bicycles can be purchased through the employer with the cost being deducted from the gross salary, thus saving on PRSI and income tax in view of the fact that this would encourage more people to cycle; and if he will make a statement on the matter.


    REPLY : Tánaiste and Minister for Finance ( Mr Cowen ) :

    There are no plans for the introduction of a scheme of the type referred to by the Deputy.

    There is provision in the existing Benefit-in-Kind arrangements to allow an employer to provide an employee with a small benefit to a value not exceeding €250 in any one year without applying PAYE and PRSI to that benefit. If the €250 limit is exceeded in any year the employee must pay tax on the total value of any such benefits.

    The purchase by an employer of a bicycle for an employee could be covered by this provision, subject to this €250 limit on the total value of such benefits in any tax year.

    I'm not sure what the exact nature of the benefit is, but has anyone actually availed of it?


    Edit: a bit more about it here: http://www.paulgogarty.com/site/index.php?option=com_content&task=view&id=297&Itemid=51


Comments

  • #2
    Prowetod
    Registered Users, Registered Users 2 Posts: 521 ✭✭✭Prowetod


    I am not sure about your question, but I cannot not see why the government dont introduce this scheme:mad:. It seems to have been a success in the Uk.
    Also you wouldnt get the best of bikes to commute with for the 250euro:(


  • #3
    cunnins4
    Closed Accounts Posts: 882 ✭✭✭cunnins4


    My sister gets that in work-she works for Google. They give her a tax-free voucher for €200 or so for Cycleways. Good idea, but she won't use it. She keeps promising me the voucher, but i'm yet to see it!

    Haven't heard of anyone else introducing it though.


  • #4
    Shaymoboy
    Registered Users, Registered Users 2 Posts: 68 ✭✭Shaymoboy


    Ikea did a similar scheme with their employees last year. They gave all their employees a free folding bike - http://bikesthatfold.com/content/view/9/


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