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

lochdara · 03-09-2012 05:17PM

Deedsie wrote: »

Hi,

I am trying to sell my own road bike at the moment. Going to put the proceeds towards a new road bike through the bike to work scheme. They just made it available where i lwork. I was just wondering when the new model bikes come out? What is regarded as the best bike shop in Ireland to do the bike to work scheme with?

I don't really know what kind of road bike to buy, my budget is going to be €1000. Ill probably pick up the bike in October, would I be better off trying to get a 2012 model on sale or wait for the 2013 models?

I have my own cateye strada cycling computer, a pair of unused gatorskin tyres and my own pedals so I won't need them on the new bike! Hoping this saving can go towards getting a slightly higher spec bike!

Hope someone can advise me get the best bike I can for the money I have to spend and where the best place for me to shop would be?

Thanks

From my info bikes are going up by 15% in 2013. I just put by a 719 euro bike and that will be 845 in next years colours. Oh and its better if ur work deals with the shop directly. The companies doing the helping hand bit charge about 50 euro. If the company deals direct u can haggle a bit. Thats what I was told from a shop owner

Deedsie · 03-09-2012 05:22PM

lochdara wrote: »

From my info bikes are going up by 15% in 2013. I just put by a 719 euro bike and that will be 845 in next years colours. Oh and its better if ur work deals with the shop directly. The companies doing the helping hand bit charge about 50 euro. If the company deals direct u can haggle a bit. Thats what I was told from a shop owner

I thought I did the haggling? Got an invoice from the bike shop and brought it back to my employer?

lochdara · 03-09-2012 05:29PM

yeah you do. But from my info if you get a voucher from a company working on behalf of ur employer they wont give anything off.

So best is the employer pay shop direct and u get best deal you can. Im getting a few freebies thrown in on top of what i got.

Deedsie · 03-09-2012 06:57PM

lochdara wrote: »

yeah you do. But from my info if you get a voucher from a company working on behalf of ur employer they wont give anything off.

So best is the employer pay shop direct and u get best deal you can. Im getting a few freebies thrown in on top of what i got.

I don't think my employer goes through any company. I can't be sure yet though! I'll try find out tomorrow. Do any bike shops sell bikes without pedals, tyres if you have them already? Like if there was an €1100 bike would they remove tyres & pedals and give it to me for €1000?

My last bike was a Claud Butler Vicenza, great bike never failed me once. Id like to try a different make this time but don't really know to much about bikes. As soon as I got my own one I stopped thinking about new bikes until now.

seanin4711 · 03-09-2012 07:06PM

missing out on a lot of very good value bikes,vitus from CRC for example!
BTW scheme brought about by eamon ryan(ex green TD) who owns a bike shop,nice wan eamo!!!

TheBlaaMan · 03-09-2012 07:12PM

seanin4711 wrote: »

BTW scheme brought about by eamon ryan(ex green TD) who owns a bike shop,nice wan eamo!!!

I think you'll find that should be 'owned'. Once he joined the Dail, he no longer maintained any direct interest in the businesses, AFAIK (other than in terms of them being 'green' forms of transport)

.

lochdara · 03-09-2012 07:18PM

TheBlaaMan wrote: »

seanin4711 wrote: »

BTW scheme brought about by eamon ryan(ex green TD) who owns a bike shop,nice wan eamo!!!

I think you'll find that should be 'owned'. Once he joined the Dail, he no longer maintained any direct interest in the businesses, AFAIK (other than in terms of them being 'green' forms of transport) .

Any mtb over 800 I looked at had no pedals. Ridley, and giant. The cube hybrid I.ordered does have.

Beasty · 03-09-2012 07:50PM

seanin4711 wrote: »

why cant we buy from wiggle or CRC?

You can unless your employer stipulates otherwise

Maybe a perusal of the first page of this thread would stop posters piling in with incorrect information or asking the same questions over and over again;)

Deedsie · 03-09-2012 11:01PM

Does anyone know can a student discount be used in conjunction with the bike to work scheme? Do you know of any bike shops offer a student discount?

Beasty · 03-09-2012 11:40PM

Deedsie wrote: »

Does anyone know can a student discount be used in conjunction with the bike to work scheme? Do you know of any bike shops offer a student discount?

Your employer buys the bike, and presumably your student disount card only applies to purchases you make. That doesn't mean that you/your employer cannot negotiate discount with the shop anyway

Now I'm a bit confused - are you both an employee and student? If so presumably you're not earning that much? Of course to save any tax under the schme you must be subject to tax (under PAYE) in the first place

Beasty · 03-09-2012 11:42PM

Deedsie wrote: »

I don't think my employer goes through any company. I can't be sure yet though! I'll try find out tomorrow. Do any bike shops sell bikes without pedals, tyres if you have them already? Like if there was an €1100 bike would they remove tyres & pedals and give it to me for €1000?

Complete bikes only under the scheme - that means it woul come with tyres and pedals (they don't have to be particularly expensive ones, but must be new)

Deedsie · 03-09-2012 11:58PM

Beasty wrote: »

Your employer buys the bike, and presumably your student disount card only applies to purchases you make. That doesn't mean that you/your employer cannot negotiate discount with the shop anyway

Now I'm a bit confused - are you both an employee and student? If so presumably you're not earning that much? Of course to save any tax under the schme you must be subject to tax (under PAYE) in the first place

Part time student, full time job for 6 years. And i bloody well pay more than enough tax.

Beasty wrote: »

Complete bikes only under the scheme - that means it woul come with tyres and pedals (they don't have to be particularly expensive ones, but must be new)

Oh right that is good to know. Thanks for that, ill try get cheapish pedals and tyres and change them for my own ones.

lochdara · 04-09-2012 07:09AM

Deedsie wrote: »

Beasty wrote: »

Your employer buys the bike, and presumably your student disount card only applies to purchases you make. That doesn't mean that you/your employer cannot negotiate discount with the shop anyway

Now I'm a bit confused - are you both an employee and student? If so presumably you're not earning that much? Of course to save any tax under the schme you must be subject to tax (under PAYE) in the first place

Part time student, full time job for 6 years. And i bloody well pay more than enough tax.

Beasty wrote: »

Complete bikes only under the scheme - that means it woul come with tyres and pedals (they don't have to be particularly expensive ones, but must be new)

Oh right that is good to know. Thanks for that, ill try get cheapish pedals and tyres and change them for my own ones.

I got a few bits like pedal clips and a few small bits thrown in cause I said I was a student ( part time too). Just ask. Ur discount might come off items outside of bike2work.

billyhead · 04-09-2012 08:34AM

What year was the BTW scheme introduced again. Was it Jan 2009?

Deedsie · 04-09-2012 09:00AM

lochdara wrote: »

I got a few bits like pedal clips and a few small bits thrown in cause I said I was a student ( part time too). Just ask. Ur discount might come off items outside of bike2work.

What bike shop was that do you mind me asking?

lochdara · 04-09-2012 09:21AM

Deedsie wrote: »

lochdara wrote: »

I got a few bits like pedal clips and a few small bits thrown in cause I said I was a student ( part time too). Just ask. Ur discount might come off items outside of bike2work.

What bike shop was that do you mind me asking?

Spokes in Waterford. I paid full price for bike, lights and a few other bits.he is adding pedal clips in when I asked for student discount. Good lads to deal with so far.

Deedsie · 04-09-2012 09:45AM

lochdara wrote: »

Spokes in Waterford. I paid full price for bike, lights and a few other bits.he is adding pedal clips in when I asked for student discount. Good lads to deal with so far.

Waterford is a bit out of the way for me unfortunately. I am looking for a bike shop in the Kildare/Dublin area really. I would travel for the best quality of bike I can get though!

Manchegan · 04-09-2012 01:44PM

RT @jjfoundation

Just heard that the Greens innovative scheme "Bicycle to Work" was dumped last week by the Govt without any fanfare.What a dim decision

Anyone heard confirmation of this?

CramCycle · 04-09-2012 02:41PM

billyhead wrote: »

What year was the BTW scheme introduced again. Was it Jan 2009?

Yep

Manchegan wrote: »

RT @jjfoundation

Anyone heard confirmation of this?

Not yet, wish he'd put up sources.

Hungrycol · 04-09-2012 05:37PM

Manchegan wrote: »

RT @jjfoundation

Anyone heard confirmation of this?

Unlikely to be dumped through the tax year, if at all. If it was going to stopped it'll be announced in the Budget in December to take effect in January 2013 and just let exitsing employer gross replayment run their course.

monument · 04-09-2012 06:23PM

It's not scraped.

It would be a story for me if it was scraped, so checked with the Departments of Finance. That's not to say it won't be in December.

Beasty · 04-09-2012 06:27PM

Hungrycol wrote: »

Unlikely to be dumped through the tax year, if at all. If it was going to stopped it'll be announced in the Budget in December to take effect in January 2013 and just let exitsing employer gross replayment run their course.

Technically it could be removed at any time - the salary sacrifice is independent of the scheme and could continue to its natural conclusion even if the scheme was terminated. Indeed most salary sacrifice arrangements are unlikely to run from January to December (to co-incide with the tax year)

Having said all that, a change of legislation would be required. AFAIK no announcements have been made (and are unlikely to have been released during the summer recess), and I agree that any change would probably be announced in the Budget. We have heard these "rumours" before, none of them seem to have had any substance and tbh the cost of the scheme (in terms of tax foregone by the Government) is so small it's probably off the radar.

Kiith · 05-09-2012 03:53PM

Quick question regarding the Bike to Work scheme. I got a bike last year, played €1250 for it (payed €250 myself), and payed €166 a month for 6 months. Does the (up to 52%) that i was supposed to have saved come in tax credits, or am i supposed to claim for it?

seamus · 05-09-2012 03:58PM

The savings came because the €166 was out of your gross pay (before tax) rather than your net.

To take a simple example, imagine your monthly salary is €2,500 before tax and you're paying 40% on it.

This means that your monthly take-home is €1500.

If they now take €166 out of your gross pay, the taxable amount is 2,334 and your take-home becomes €1,400.

So while a €166/month deduction has been made from your gross pay, your take-home has only reduced by €100.

If you look at your payslips before the scheme and then after the scheme, you'll see the difference in take-home isn't €166/month.

lochdara · 05-09-2012 03:59PM

€166 a month is taken from your gross pay and you pay tax on the balance of your gross pay then, 42% tax, 8% prsi, 1 % income levy

Hungrycol · 05-09-2012 04:12PM

lochdara wrote: »

€166 a month is taken from your gross pay and you pay tax on the balance of your gross pay then, 42% tax, 8% prsi, 1 % income levy

billyhead · 05-09-2012 04:21PM

Hopefully it won't be scrapped before the 5 year anniversary has run out so I and many other are eligible to get another bike under the scheme.:)

lochdara · 05-09-2012 05:22PM

Hungrycol wrote: »

[/B]

That the % was where the 51% saving comes from. But it means the same as the post from seamus

Hungrycol · 05-09-2012 10:41PM

Hungrycol wrote: »

Slight update since then, and just for clarity it's:

41% PAYE
4% PRSI
7% USC
52% saving for Marginal rate earners.
10.75% Employers PRSI saving also.

billyhead · 10-09-2012 05:07PM

Has anyone ever got another bike under the BTW scheme with a new employer?

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

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