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Deloitte (Bike to work scheme)

  • 19-06-2011 6:39pm
    #1
    m.j.w
    Registered Users, Registered Users 2 Posts: 1,494 ✭✭✭


    Hi just wondering has anyone availed of the bike to work scheme through deloitte. Read this on the website

    Cycle to work scheme
    Cycle to Work Scheme/Deloitte will facilitate the purchase of a bicycle and/or accessories up to a maximum of €1,000 without the employee being liable for benefit-in-kind taxation.

    What way does it work, if you get a bike for 1000 you pay half that is it? Who would you have to get in contact with to sort it out?


Comments

  • #2
    pauldoo
    Registered Users, Registered Users 2 Posts: 637 ✭✭✭pauldoo


    Its just the standard bike to work scheme, they wont pay for any of it


  • #3
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    m.j.w wrote: »
    Hi just wondering has anyone availed of the bike to work scheme through deloitte. Read this on the website

    Cycle to work scheme
    Cycle to Work Scheme/Deloitte will facilitate the purchase of a bicycle and/or accessories up to a maximum of €1,000 without the employee being liable for benefit-in-kind taxation.

    What way does it work, if you get a bike for 1000 you pay half that is it? Who would you have to get in contact with to sort it out?

    The company needs to pay for the bike in full. You would then reimburse the employer over a maximum permitted period of 12 months.

    The benefit to you is that your taxable pay is reduced by the repayment amounts.

    The benefit to the company is a happy employee and the ER PRSI saved on the reduced pay.

    Downside for the company - Cashflow (probably not such a big issue for Deloitte) and a sweaty employee :D


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