jeffk wrote: » Not to hijack the thread, but All the talk of BTW scheme, can you get a bike,then say get a job in few weeks/month and get money back on the scheme?
Rogue-Trooper wrote: » Our company offer the BTW scheme and you pay it back over 3 months. This however is a stumbling block for many employees as it makes it quite a big outlay and more have said they would participate if it were spread over 6 or 12 months. I'm going to approach our overlords to see if it's possible to do this, but it would be nice to have a sense of what other companies offer. So my question is, what are the repayment terms at your place of work?
magicbastarder wrote: » yep, you can't avail of the cycle to work scheme if you've no actual work to cycle to.
Rogue-Trooper wrote: » Just an update on this. Our HR Dept just came back to me to say they have extended the repayment period to 6 months. Result! Next thing to tackle is moving them away from the voucher system so that 10% of your spend isn't gone on the commission......
Hungrycol wrote: » Leaving employment. Is the net pay rule only in the UK? This is what I found on the Revenue site FAQ:What happens if I leave my employment or retire before the salary sacrifice is completed? Employees should settle the full outstanding balance before the date of ceasing employment or retirement. As is it a gross deduction I read this to mean the gross balance.
Unknown Soldier wrote: » Would the scheme be applicable to a bike that was traded into CycleSuperstore? Technically it wouldn't be a new bike, but new to the purchaser?
Eamonnator wrote: » No
iwillhtfu wrote: » Why not? Surely once css can provide an invoice for the bike then it's the same thing. No? Possibly an issue with it being second hand does it have to be new?
cython wrote: » Because the Taxes Consolidation Act which underpins the scheme says that the bike and any applicable equipment must be unused. Any attempt to conceal a second hand purchase via a creative receipt would be tax fraud.
dahat wrote: » CSS sold you a bike which is the bare bones of the scheme, a receipt of the purchase would suffice. I have never been asked wether bike was new or second hand after using b2w x 3 times.
iwillhtfu wrote: » I didn't insinuate anything about a creative receipt :rolleyes: It has to be new would have sufficed.
iwillhtfu wrote: » Possibly an issue with it being second hand does it have to be new?
(5G) (a) Subject to paragraph (c) of this subsection, subsection (1) shall not apply to expense of up to ?1,000 incurred by the body corporate in, or in connection with, the provision for a director or employee of a bicycle or bicycle safety equipment, where? (i) the bicycle and bicycle safety equipment provided is unused and not second-hand,
DDC1990 wrote: » I've applied to buy a Cayon Endurace 6.0 through the CTW scheme but I'm still a little confused in regards of getting my employers (The Department of Education) to pay for it. I selected the correct payment system on Canyon and have all their details. I have an application form from the DOE to fill in and send off to them. However do I need to put down the full amount (€1149) on that applocation form or just €1000 and arrange to pay Canyon the rest myself. I was also reading the FAQ's and they mention VAT. Do I include VAT in the amount or not. A link to the Application form is here:http://www.education.ie/en/Education-Staff/Services/Payroll-Financial/Cycle-to-Work/Cycle-to-Work-Scheme.html Apologies if these are really stupid questions. I just know if I have anything out of place it'll take months for it to be fixed with the Dept as they are coming into their busiest time now.
I hereby authorise a salary sacrifice of €_____________ (Please enter the total amount as stated on the invoice, maximum €1,000) of my annual basic salary in lieu of the provision of new bicycle/cycle safety equipment by the Department of Education and Skills
Kaisr Sose wrote: » I was looking at Canyon and Rose for bike to work but gave up due to the payment issue. Employers need an invoice for 1000 max. They will only issue one invoice for the full value. If the invoice is more than ?1000, they can't part pay it and have somebody else pay the balance. It's an invoice payable by them in full or it comes up as an anomaly for audit.
Kaisr Sose wrote: » it comes up as an anomaly for audit.
Kaisr Sose wrote: » I was looking at Canyon and Rose for bike to work but gave up due to the payment issue. Employers need an invoice for 1000 max. They will only issue one invoice for the full value. If the invoice is more than €1000, they can't part pay it and have somebody else pay the balance. It's an invoice payable by them in full or it comes up as an anomaly for audit.
iwillhtfu wrote: Afaik Canyon won't accept two separate payments so OP you may well be stuck on that one. Perhaps they might accept a deposit with the balance to be paid by your employer.
Seve OB wrote: » with a perfectly reasonable explanation.
Carnmore wrote: » I know someone who's a higher rate taxpayer but they can only get 45% tax relief. They are not getting the full 52% relief because they are jointly assessed with their spouse for tax purposes. I understood there were only two relief bands - 52% and 31%. Can anyone explain this?
dylbert wrote: » Has anyone bought a bike online using the cycle to work scheme?
