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Ordering from Canyon - Basic Query

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    #32
    hesker
    Registered Users Posts: 1,491 ✭✭✭hesker


    Crocked wrote: »
    So based on a bike price of €2.5k if buying privately would work as follows

    Canyon will invoice the Company €2,032 (VAT excl) and that's what the Company will pay Canyon.

    You still have to pay the Company €2,500. €1,250 salary sacrifice and €1,250 outside the BTW. The extra €468 that you'll have paid to the Company over what they paid to Canyon they then pay to Revenue on their VAT return.

    Correct as I see it. No reason why it can’t be done this way by employer except for them being awkward for whatever reason. Would be perfectly acceptable and tax compliant for any audit. One €1250 would be deducted from nett salary, the other from gross. Both could be from one or more paycheques.


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    #33
    paddydriver
    Registered Users Posts: 2,079 ✭✭✭paddydriver


    So if I'm the company I can talk to Canyon and buy my bikes Ex VAT... :D Then I can just borrow it from the company to do all my cycling.


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    #34
    nilhg
    Registered Users Posts: 5,122 ✭✭✭nilhg


    paddydriver wrote: »
    So if I'm the company I can talk to Canyon and buy my bikes Ex VAT... :D Then I can just borrow it from the company to do all my cycling.

    Be grand, at least till you have a Revenue audit........


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