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Bike to work scheme

  • 08-12-2012 10:41am
    #1
    digzy
    Registered Users, Registered Users 2 Posts: 3,049 ✭✭✭


    Mods please move if necessary

    I'm thinking of getting a bike under this scheme. i'm trying to figure out how to structure it. i'm self-employed and pay tax at the higher rate. Can i buy the bike and get a personal tax credit or is it an expense that I deduct like a regular bill? Would it make more sense if i 'bought' the bike for an employee? if so does my employee-pays tax at lower rate only- get a revenue refund or do i get it as a deductable expense?


Comments

  • #2
    Citizenpain
    Registered Users, Registered Users 2 Posts: 2,004 ✭✭✭Citizenpain


    As far as I know the Bike to work Scheme is aimed at PAYE employees - It is not available to the self employed


  • #3
    nompere
    Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    Citizenpain wrote: »
    As far as I know the Bike to work Scheme is aimed at PAYE employees - It is not available to the self employed

    They don't need it. They just buy the bike, claim capital allowances over 8 years, and ride the bike while carrying out their business.


  • #4
    digzy
    Registered Users, Registered Users 2 Posts: 3,049 ✭✭✭digzy


    nompere wrote: »
    They don't need it. They just buy the bike, claim capital allowances over 8 years, and ride the bike while carrying out their business.

    I'm not sure if you're correct there. If a tool/instrument etc. is used for work one can do that. Dont think you can claim capital allowances on your mode of transport to get to work. if I'm a plumber doing calls I could do that with a van. However if i'm an accountant/barber I dont think one can claim those-maybe i'm wrong. I know speaking to colleagues in the same business, half of their accountants write down their car and the other half dont. I told mine not to just in case!


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