cycle to work scheme

aidanki

went to shop this evening and enquired about an entry level roadbike, nothing at the minute said the man behind the counter as bikes tend to upgrade their models august come back in two weeks time should have stuff in........

all advice on entry levels roadbikes appreciated what to look for....what places to look on line etc. as with most things I imagine you ca buy kit form assemble yourself and save a packet

it seems to me there is no difference in the bikes only the frames as they all have shimano gear etc. albeit different grades meaning that should something break that you could get it from any dealer regadless of where purchased

are axles bearings brand specific ???????

as I was leaving we got to talking about cycle to work scheme I said my employers aren't participating at all doesn't matter he said I can write you an invoice for the bike you can send it in to revenue you will get back someting to fill out and claim it back against your taxes, which is the same as the revenue scheme

anyone heard is the scheme like that, or MUST your employer be involved

petethedrummer

Have a look at this thread:
http://boards.ie/vbulletin/showthread.php?t=2055621143

Morgan

aidanki wrote: »

as I was leaving we got to talking about cycle to work scheme I said my employers aren't participating at all doesn't matter he said I can write you an invoice for the bike you can send it in to revenue you will get back someting to fill out and claim it back against your taxes, which is the same as the revenue scheme

anyone heard is the scheme like that, or MUST your employer be involved

The CTW scheme can only be availed of through your employer - there is no other option.

corkandproud

aidanki wrote: »

as I was leaving we got to talking about cycle to work scheme I said my employers aren't participating at all doesn't matter he said I can write you an invoice for the bike you can send it in to revenue you will get back someting to fill out and claim it back against your taxes, which is the same as the revenue scheme

anyone heard is the scheme like that, or MUST your employer be involved

This is blatently wrong and the retailer should be ashamed of himself. I have a colleague who got stung with bad advice like this.

Dr_Colossus

Morgan wrote: »

The CTW scheme can only be availed of through your employer - there is no other option.

Anyone know why is it only done like this and not like a tax deductible expense like medical expenses? The employee is more or less at the mercy of the employer as to whether they're willing to participate and then they can set restrictions as to where you can only buy the bike thus limiting competition and bargain hunting. I realise the employer stands to gain by not having to make PRSI contributions on the amount also but this obviously isn't enough of an incentive for some employers to get involved.
Thanks

Idleater

Dr_Colossus wrote: »

Anyone know why is it only done like this and not like a tax deductible expense like medical expenses?

Probably so that not everyone in the state does a "deal" with a mate to "buy" a €1000 "bike", claim the relief and obviously not end up with a bike, resulting basically in an extra €1000 tax credit for nothing.

At least now, you actually have to go through a process, and the government gets VAT on most sales.

Dr_Colossus

True I suppose but with medical expense reliefs you have to go through a process with receipts and all so no reason why that shouldn't work with the CTW scheme. As it is the scheme only works for new bikes so nothing wrong with having to return your receipt from a registered company or website to obtain the tax relief. My 2c worth anyway.

nicksinthemix

Dr_Colossus wrote: »

Anyone know why is it only done like this and not like a tax deductible expense like medical expenses? The employee is more or less at the mercy of the employer as to whether they're willing to participate and then they can set restrictions as to where you can only buy the bike thus limiting competition and bargain hunting. I realise the employer stands to gain by not having to make PRSI contributions on the amount also but this obviously isn't enough of an incentive for some employers to get involved.
Thanks

It has to go through emplyers because that way the gear actually has some potential of being used to replace a car for the daily commute. Its fairly solid reasoning.

For those who want information you can look us up at http://www.electricbicycles.ie and there's a description of how the scheme works from our end at http://www.electricbicycles.ie/cycletowork.php.

We spend a lot of time calling HR departments to get them to operate the scheme and it's very simple from their point of view. Anyway, the sales plug here is that if you want an electric bike then talk to us for a deal with CTW. It's not bad, up to 47% off and the rest gets paid for through salary sacrafices. It's about 40-60 lids every months for a year and that's if you splash out on a bike worth a grand.

Anyone see that article in the paper pointing out that Eamon Ryan's department had put only one CTW application through? I think people are only beginning to realise the scheme is in existence.