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

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.

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?

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

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

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.

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?

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??

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.

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.

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

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.

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.

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.

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.....