billyhead wrote: »
Is it being pulled across the civil service i.e other departments surely they cant bin the scheme in one department and then carry it on in another?
imonboard wrote: »
I was hoping to buy from wiggle. What is the procedure for the public sector?
seanin4711 wrote: »
Tax free bikes have wiggle in their books
donal7 wrote: »
Do Slane Cycles offer the BTW scheme on their bikes? Apologies if this has already been asked. Cheers
Beasty wrote: »
It's your employer that determines if any restrictions will be placed on where the bike is purchased from.
G-Man wrote: »
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.
dogsears wrote: »
No Revenue won't have a problem with you no longer being employed from Jan 14 so long as your salary sacrifice is fully complete, which it sounds like it will be.
Eglinton wrote: »
I heard recently about Bike Shops passing on the fee they're charged by the broker or voucher processing companies. Has anyone heard of this? There's a brief mention of it on the 1st page of this thread but I can't find any more info on it. Figures of 10% of the purchase were mentioned. I can't see how this is fair. This is a deal between the bike shop and the broker. If they want to bake some of that in to the price, fine but 10% seems extortionate and I would assume is bending the tax rules a bit i.e. you're not really getting your full monies' worth of equipment but you are paying your tax on the full amount.
Jabel wrote: »
Can anyone tell me what the procedure is for changing jobs during the scheme?
robertxxx wrote: »
I got a bike about 2.5/3years ago, fully paid up, so now I'm in a new job can a get another bike (I think not) but could I ask my job for it.
doyler442 wrote: »
I'm looking to purchase a bike through the education department, and want to get it from the Canyon website but there seems to be a few issues:
- their Cycle To Work Scheme Application Form says bikes can only be purchased from certain providers but the link they give no longer works: http://www.opw.ie/en/OurBusinessUnits/GovernmentSuppliesAgency/Cycle-to-WorkScheme/. This means I've no idea where I can purchase a bike from.
- the form also seems slightly conflicting saying "Please ensure that the bank account is within the Republic of Ireland and will support the Electronic Money Transfer System." while also saying later "Where the supplier’s bank account is not based in the Republic of Ireland there may be an additional nominal fee to facilitate the payment to the supplier by the Electronic Money Transfer System, which will be included in the salary sacrifice figure.". So I'm assuming I can buy a bike from outside of Ireland but I'll be charged the transfer fee.
I'm finding this confusing, so just wondering if anyone can tell me if they managed to buy from the Canyon website through the educational department cycle to work scheme? And if not, does anyone know who I could contact to find out?
TychoCaine wrote: »
No. You can only do it once every 5 years.
Kaisr Sose wrote: »
It's your HR / payroll section that you need to ask. I believe an Irish VAT would be required by Canyon but not 100% on that point.
CramCycle wrote: »
You can buy the bike from anywhere your employer allows, so it does not always require Irish VAT eg buying from a small UK company.
Beasty wrote: »
Assuming the employer is registered for VAT in Ireland, and the bike is bought from an Irish retailer, the position is straightforward. The retailer charges 23% VAT, and the employer cannot claim it back. The same situation arises where the UK retailer is registered for Irish VAT (eg Wiggle)
If the employer is registered for VAT in Ireland and the bike is bought from a UK (or other non-Irish) retailer that is not registered for VAT in Ireland (which is often the case, the main exceptions being Wiggle and ChainReactionCycles), the employer should provide the retailer with its Irish VAT number. The retailer should then not charge any VAT. However the employer should then self-account for Irish VAT at 23%, and is unable to recover it. If the employer does not provide it's Irish VAT number, you end up paying both UK VAT (on the initial purchase) and Irish VAT (under the self-accounting system) - there is a procedure to recover the UK VAT paid but it is very messy and time-consuming, so it's better not to go there!
In all the above examples, the net position is that irrecoverable Irish VAT at 21% is suffered. It is perhaps important to note that if you are looking at prices with 20% UK VAT that come to just under €1,000, the extra 1% may bring you above the €1,000 threshhold. In this case, only the excess is a taxable benefit in kind.
The one situation where Irish VAT is not paid is where the employer is not registered for Irish VAT (not normally the case, but possible, particularly for low turnover or financial service companies). In this case the retailer charges UK VAT at 20%, but there is no mechanism for the employer to charge itself Irish VAT. Hence the VAT cost is 20% in this case.