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Bike to Work scheme - the Megathread - Read post #1 before posting

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Comments

  • Registered Users Posts: 6,236 ✭✭✭Idleater


    kenmc wrote: »
    how is it any different? surely you end up paying the same price for 2 bikes no matter which is the btw one?

    yes true I know that, I was only saying that saving 40% on a bike to cycle to work on for me was better than saving 10% on a race bike that I wouldn't/couldn't cycle to work on.

    i.e. unless you are purchasing both bikes at exactly the same time, you can use the BTW scheme to get a more of better spec components, and buy the race bike at a different time negotiating whatever deals come about. In my case I got a 10% discount on the race bike which would have been the BTW money that couldn't have been applied if I went through the scheme (again, in my case).


  • Registered Users Posts: 2,246 ✭✭✭Hungrycol


    I was going to do this but didnt have the other €2k when push came to shove. What I was going to do was ask my finance dept to pay the €1k to Canyon and I'd settle the balance with Canyon directly.


  • Administrators, Social & Fun Moderators, Sports Moderators Posts: 74,330 Admin ✭✭✭✭✭Beasty


    Threads merged

    Beasty


  • Registered Users Posts: 74 ✭✭joeduke


    A person works for me earns €15 per hour before tax
    He works 40 hours a week
    He wants a bike, cost €1000
    I pay for the bike
    How do I get my money back?


  • Registered Users Posts: 30,992 ✭✭✭✭Lumen


    Take it out of his gross pay, usually in installments.


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  • Registered Users Posts: 497 ✭✭experimenter


    Isn't there an on line tool for this??

    http://www.cyclesuperstore.ie/shop/pc/bike2work.asp


  • Registered Users Posts: 74 ✭✭joeduke


    So I take €19.23 per week from his pay for 52 weeks


  • Registered Users Posts: 30,992 ✭✭✭✭Lumen


    joeduke wrote: »
    So I take €19.23 per week from his pay for 52 weeks

    From his gross pay, yes, if you want to spread it over 52 weeks. You can use whatever repayment plan you like, AFAIK.

    He will see a lower reduction in his net pay.


  • Registered Users Posts: 74 ✭✭joeduke


    So if I take 52 x €19.23 = €1000 how is he saving?


  • Registered Users Posts: 30,992 ✭✭✭✭Lumen


    joeduke wrote: »
    So if I take 52 x €19.23 = €1000 how is he saving?

    Do you understand the difference between gross and net pay?


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  • Registered Users Posts: 541 ✭✭✭sbs2010


    His weekly pay is 600, right?

    Probably anything over 500 per week is getting hit with tax+prsi+usc of 50%.


    Once he goes on to bike to work repayments, you take the 19 off the 600 before the tax etc is calculated, so thats 19.23 euro that he's not paying 50% tax+prsi+usc on. So its 9.62 tax he's avoided.

    Instead of taking home say 380, he takes home 371.38

    So over 52 weeks he's taken home 52x9.62 less than he would have. Thats 500 less pay he's taken home but he's got a bike for 1000.


  • Registered Users Posts: 104 ✭✭WilcoYHF


    Hi all,

    I work for a very large UK engineering company and I'm pretty desperate to get on the bike to work scheme (I did my first 100k yesterday on my rubbish halfords hybrid in 5 hours and its gotta go). Unfortunately anytime I ring the HR dept based in the ring UK no one seems to know whether the company does the scheme for ROI employees (well one girl said I could get on it but when I said "you do know we're in a different tax jurisdiction in Dublin" to which she said "oh yeah, no we don't do it in Eire). When I do get a definitive answer that I can't get on it, I always feel that they actually don't know.


    So my query is, has anyone else been in this situation, is there anything I can do??


  • Administrators, Social & Fun Moderators, Sports Moderators Posts: 74,330 Admin ✭✭✭✭✭Beasty


    There's nothing to stop them offering the scheme to all employees who are subject to Irish PAYE, but there's nothing to force them either

    One point to clarify - do you work for a UK company (which would be in effect an Irish branch of the UK company), or do you work for an Irish subsidiary of a UK company? It does not affect the overall conclusion, but I suspect that putting in place a scheme for an Irish company may be a little easier than for an Irish branch (more in terms of internal company procedures than the technicalities)


  • Registered Users Posts: 149 ✭✭Iwernia


    joeduke wrote: »
    So I take €19.23 per week from his pay for 52 weeks


    You decide the term, my last employer wanted repayment over 3 months whereas my current employers scheme is over 6 months.


  • Registered Users Posts: 104 ✭✭WilcoYHF


    Beasty wrote: »
    There's nothing to stop them offering the scheme to all employees who are subject to Irish PAYE, but there's nothing to force them either

    One point to clarify - do you work for a UK company (which would be in effect an Irish branch of the UK company), or do you work for an Irish subsidiary of a UK company? It does not affect the overall conclusion, but I suspect that putting in place a scheme for an Irish company may be a little easier than for an Irish branch (more in terms of internal company procedures than the technicalities)

    Its a UK company of which we are an Irish branch, therefore all HR, accounts etc are in the UK hence the hassle. There is one guy who does our wages I'm goona try talk to him directly after that I'm at a loss.


  • Registered Users Posts: 1,036 ✭✭✭Surveyor11


    I work for a company in Ireland who has a UK head office. They use http://www.cyclescheme.co.uk/, who basically act as an agent. They seemed to be up to speed with the Irish system, which is pretty identical - you just pick a bike, get an invoice for it, the company gives you a loan and recoups the amount net of tax from your monthly wage.


  • Administrators, Social & Fun Moderators, Sports Moderators Posts: 74,330 Admin ✭✭✭✭✭Beasty


    Surveyor11 wrote: »
    They seemed to be up to speed with the Irish system, which is pretty identical
    The UK and Irish schemes are very different. In particular in the UK scheme the employer retains ownership of the bike


  • Registered Users Posts: 1,036 ✭✭✭Surveyor11


    Ok, fair enough - that's a point. But the admin end of things and tax relief AFAIK is pretty similar.


  • Administrators, Social & Fun Moderators, Sports Moderators Posts: 74,330 Admin ✭✭✭✭✭Beasty


    Surveyor11 wrote: »
    Ok, fair enough - that's a point. But the admin end of things and tax relief AFAIK is pretty similar.
    The Irish scheme is both simpler and probably a bit more generous (even though the financial limit is lower at €1k compared to £1k, under the UK scheme the employee would still need to pay market value to purchase the bike at the end of the scheme). Unfortunately however the rules are actually quite different, which makes the admin of running both schemes a bit more cumbersome


  • Registered Users Posts: 250 ✭✭cL0h


    Beasty wrote: »
    The UK and Irish schemes are very different. In particular in the UK scheme the employer retains ownership of the bike

    Has anyone here actually purchased a bike from the UK under the Irish scheme. I am talking to both Wiggle and my employer at the moment.
    My employer reckons that Wiggle need to be signed up to the IRish scheme. The OPW reckons they are but can anyone confirm the process is as straightforward as requesting an invoice and having my employer pay it.


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  • Administrators, Social & Fun Moderators, Sports Moderators Posts: 74,330 Admin ✭✭✭✭✭Beasty


    cL0h wrote: »
    Has anyone here actually purchased a bike from the UK under the Irish scheme. I am talking to both Wiggle and my employer at the moment.
    My employer reckons that Wiggle need to be signed up to the IRish scheme. The OPW reckons they are but can anyone confirm the process is as straightforward as requesting an invoice and having my employer pay it.
    The bike can be bought from anywhere, and many on here have bought from the UK. There is no "official list" of suppliers, although employers can specify certain suppliers if the wish. Suppliers do not need to sign up to anything (unless the particular employer wishes them to)


  • Registered Users Posts: 454 ✭✭le petit braquet


    Beasty wrote: »
    Surveyor11 wrote: »
    Ok, fair enough - that's a point. But the admin end of things and tax relief AFAIK is pretty similar.
    The Irish scheme is both simpler and probably a bit more generous (even though the financial limit is lower at €1k compared to £1k, under the UK scheme the employee would still need to pay market value to purchase the bike at the end of the scheme). Unfortunately however the rules are actually quite different, which makes the admin of running both schemes a bit more cumbersome
    I work for Irish subsidiary of a UK parent and payroll is administered in the UK. We had a bit if a battle about the Bike to Work scheme as they were only prepared to offer the UK scheme, complete with ultimate purchase by employee. Eventually by pointing out that the admin of the Irish scheme is simpler and analogous to what is done for the annual travel ticket, they eventually conceded. Unfortunately they restricted purchases to Halfords. Anyway it's worth clarifying that it is the Irish scheme that they are offering.


  • Registered Users Posts: 65 ✭✭mccarrd2


    Im considering getting a new bike on the BTW scheme for a second time with a new employer. This thread is very good, but has anyone actually done this, and got the tax relief on the second bike?


  • Registered Users Posts: 26 Foxytrot


    Hi,

    Has any one had problems with the Cycle to work scheme. I decided to upgrade my bike through it and went into a recommended shop and picked out my lovely new bike! I had the invoice sorted with accounts in my office and went into shop to let them know it had been processed.

    They said they would order it on the Monday and should have it within a week. That was a month ago and still no joy with bike.

    I have called into the shop, rang them couple of times each week. I have gotten number of different excuses and never gotten a call back until i have rang and given out. At first i was told it would be in next week, then they missed delivery, then the person who looks after administration was sick, that it was ordered but stuck in transit....it has become laughable at this stage. Most recent was that it wouldn't be in stock until april. I have rang out of things to say to them

    I have asked the office in work and they said that there is no limit to when the supplier has to provide the bike by.
    Has anyone had any issue with getting their bike?
    The shop is well recommended and other people have gotten their bikes from them.


  • Administrators, Social & Fun Moderators, Sports Moderators Posts: 74,330 Admin ✭✭✭✭✭Beasty


    I've moved it into the megathread, although I guess it's more a supply problem than a BTW issue. It's probably not the retailers fault (other than their failure to manage your expectations) - if they cannot get hold o the bike form the distributor, you may find other retailers have the same issue with that bike. I think it's just a matter of pestering them a bit to make sure you don't drop down any "priority list" (as a result of someone else pestering them more;))


  • Registered Users Posts: 26 Foxytrot


    It has gotten to a stage now where they don't answer any emails and strangely enough there landline number isn't working anymore. I think i am on a first name basis with all of the staff! :)
    I wouldn't mind if they said it will be this amount of time due to distributor issues but to be told it will be in in the morning and to go in and find out its not there twice now is starting to get annoying. I was told they would ring me this morning once it had arrived and had been put together.....no joy...no call. Going to try and get off early to go to the shop.....


  • Registered Users Posts: 14 wackojacko1979


    Hi Folks,
    Great thread, very informative. My question is, does having a company van which is used for commuting to work and travelling for work exclude me from the CTW scheme? My boss seems to think it does but he may just not want to get involved in the scheme:(


  • Administrators, Social & Fun Moderators, Sports Moderators Posts: 74,330 Admin ✭✭✭✭✭Beasty


    Hi Folks,
    Great thread, very informative. My question is, does having a company van which is used for commuting to work and travelling for work exclude me from the CTW scheme? My boss seems to think it does but he may just not want to get involved in the scheme:(
    No it does not - you are still required to intend using the bike mainly for commuting though, so if your work requires you to drive in every day in the company van, then I can see where your employer would be coming from

    If your employer offers the scheme anyway, he cannot exclude you, provided you are subject to Irish PAYE and intend using the bike mainly for commuting. However there is absolutely no onus for him to offer the scheme if he does not already do so.


  • Registered Users Posts: 2,246 ✭✭✭Hungrycol


    Hi Folks,
    Great thread, very informative. My question is, does having a company van which is used for commuting to work and travelling for work exclude me from the CTW scheme? My boss seems to think it does but he may just not want to get involved in the scheme:(
    What Beasty said but I wonder if a "qualifying journey" would also consider leaving your van in a car park and cycling to it from home and from it in the evening. Thereby using it for part of your commute similar to people who cycle to the train station and bus stops which in my understand of the scheme is allowable.


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  • Administrators, Social & Fun Moderators, Sports Moderators Posts: 74,330 Admin ✭✭✭✭✭Beasty


    Hungrycol wrote: »
    What Beasty said but I wonder if a "qualifying journey" would also consider leaving your van in a car park and cycling to it from home and from it in the evening. Thereby using it for part of your commute similar to people who cycle to the train station and bus stops which in my understand of the scheme is allowable.
    That would qualify.


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