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Cycle to work deduction in Dec not at top rate

  • 26-11-2013 7:35pm
    #1
    G-Man
    Registered Users, Registered Users 2 Posts: 563 ✭✭✭


    Hi,
    My employer wants to make all cycle to work deduction - 1000 Eur from a single month i.e December.

    I reckon this will mean not enough taxable income to get the benefit at the top rate whereas if this was a month earlier in the year It would balance out over the year.

    Will my payslip be adjusted to give me a tax refund in the pay cheque, or will I effectively be only getting it at the low rate and have to ask for a balancing statement.

    I tried asking my payroll people but they are busy with all the regular December and end of year stuff.

    Now for a non related question, if I was to resign from my company and be self employed from Jan 1st, when I come to do the balancing statement for 2013 will revenue balk and say nah you are not in PAYE employment and therefore not honour the tax free benefit of the cycle to work.
    Failed to load the poll.


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