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

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Comments

  • #1902
    Agent_47
    Registered Users, Registered Users 2 Posts: 761 ✭✭✭Agent_47


    TheMilkyPirate wrote: »
    Hi lads I applied for cycle to work in my workplace over 4 months ago and I ky received my voucher last week due to hold ups. The bike I originally wanted is no longer for sale and I don't fancy anything else in Halfords.

    The voucher I received is a one4all single use collection card. Can I use this in another bike shop or is it tied to Halfords??
    A one4all voucher or card can be used in shops other than Halford or the place you got the quote. Did same myself 3 months ago after checking


  • #1903
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,182 CMod ✭✭✭✭magicbastarder


    i've deleted a few posts about abusing the scheme; for the record, you're not allowed sell your tax allowance to anyone else and using it to buy anything other than a bike is fraud


  • #1904
    lizzylad84
    Registered Users, Registered Users 2 Posts: 1,422 ✭✭✭lizzylad84


    Apologies if there's already a thread for this. Possibly a bit of a 'how long is a piece of string" question, but how can I calculate bike to work scheme replayments?
    The company I work for request weekly repayments over a 10 month period, sobis it simply the ammount (1000)÷ weekly repayments over the 10 months (4×10).


  • #1905
    grogi
    Registered Users, Registered Users 2 Posts: 8,615 ✭✭✭grogi


    lizzylad84 wrote: »
    Apologies if there's already a thread for this. Possibly a bit of a 'how long is a piece of string" question, but how can I calculate bike to work scheme replayments?
    The company I work for request weekly repayments over a 10 month period, sobis it simply the ammount (1000)÷ weekly repayments over the 10 months (4×10).

    BTW is calculated before tax. So your 100 repayment will really cost you much less, even 49 if you're on the 51% marginal tax rate.


  • #1906
    lizzylad84
    Registered Users, Registered Users 2 Posts: 1,422 ✭✭✭lizzylad84


    Ok, thanks for the information. The HR Dept where I am know nothing about it.


  • #1907
    cdaly_
    Registered Users, Registered Users 2 Posts: 6,440 ✭✭✭cdaly_


    There's a megathread over that way. If HR know nothing about it, do your own research into how it works and advise them. Otherwise there's a risk that they'll sign up with a "Bike to Work" voucher scheme/scam where you lose 10% of your €1000 in 'commission'.


  • #1908
    TheShow
    Registered Users, Registered Users 2 Posts: 1,157 ✭✭✭TheShow


    lizzylad84 wrote: »
    Apologies if there's already a thread for this. Possibly a bit of a 'how long is a piece of string" question, but how can I calculate bike to work scheme replayments?
    The company I work for request weekly repayments over a 10 month period, sobis it simply the ammount (1000)÷ weekly repayments over the 10 months (4×10).


    the gross pro rata amount will be deducted from you pay, either on a weekly or monthly basis, where you will save will be on the tax relief you get depending on what rate of tax you pay.

    So if the bike cost €1000 and you have to pay for it over 10 months, thats 100 per month to be deducted from you pay, but you will get tax relief on it, so the actual deduction in your net pay will be less.


  • #1909
    sheepers
    Registered Users Posts: 53 ✭✭sheepers


    I've just started a new job, haven't been working up until now this year.

    As I am unlikely to pay any PAYE between now and the end of the year, should I be waiting until January to avail of this scheme?


  • #1910
    TychoCaine
    Registered Users, Registered Users 2 Posts: 673 ✭✭✭TychoCaine


    You're better off waiting. You'll get very little benefit on the repayments made this year. Also, most companies won't allow employees still on probation access the scheme.


  • #1911
    blarney60
    Registered Users Posts: 5 ✭blarney60


    Can anyone explain this scheme clearly to me please?

    As Beasty said in the first post "Basically, you can get up to €1,000 of bike/accessories through your employer, either as a completely free benefit-in-kind (if your employer likes you); or paid for by deductions from your salary, saving you tax, PRSI and levies on the purchase price. There is a benefit to the employer as they save employers PRSI."

    So there are two options - If the employer likes you, you get it free and pay nothing through your pay? What does it mean as a tax free benefit in kind? If an employer did this with one employee would there be a risk he would have to do it for all employees?

    or, presumable the most common way...
    you pay bicycle cost as a gross deduction from your wages.

    Thanks
    Paul


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  • #1912
    grogi
    Registered Users, Registered Users 2 Posts: 8,615 ✭✭✭grogi


    blarney60 wrote: »
    Can anyone explain this scheme clearly to me please?

    As Beasty said in the first post "Basically, you can get up to €1,000 of bike/accessories through your employer, either as a completely free benefit-in-kind (if your employer likes you); or paid for by deductions from your salary, saving you tax, PRSI and levies on the purchase price. There is a benefit to the employer as they save employers PRSI."

    So there are two options - If the employer likes you, you get it free and pay nothing through your pay? What does it mean as a tax free benefit in kind? If an employer did this with one employee would there be a risk he would have to do it for all employees?

    It means you just got a €1000 bonus that is not taxed. You're employer pays €1000, you get €1000 bike.

    Without the scheme your employer would pay €1000 for the bike that you receive (plus some additional PRSI contributions). It would be taxed as BIK - so you'd need to pay extra ~250-500 extra tax on it as well.


  • #1913
    CramCycle
    Moderators, Sports Moderators Posts: 25,168 Mod ✭✭✭✭CramCycle


    blarney60 wrote: »
    As Beasty said in the first post "Basically, you can get up to €1,000 of bike/accessories through your employer, either as a completely free benefit-in-kind (if your employer likes you);
    This is basically how no one does it, basically they would increase your salary by €1000 and then take it off you to pay for the bike.
    So there are two options - If the employer likes you, you get it free and pay nothing through your pay? What does it mean as a tax free benefit in kind? If an employer did this with one employee would there be a risk he would have to do it for all employees?
    if the employer said it was part of the scheme, then yes, they would have to offer it to all employees.
    or, presumable the most common way...
    you pay bicycle cost as a gross deduction from your wages.

    Thanks
    Paul
    And this is the way nearly everyone will experience the scheme. If you get paid 30k a year, they will only pay you 29k a year when you avail of the scheme, but you see the savings as 1000k gross, which will work out as roughly €710 net, so you save 29%. If you got paid 50k, then it would be 49k net, and you would only pay€490 net, so a 51% saving.


  • #1914
    dahat
    Registered Users, Registered Users 2 Posts: 16,826 ✭✭✭✭dahat


    Random post but my wife's employer refuses to do this scheme.

    Any way around this?


  • #1915
    CramCycle
    Moderators, Sports Moderators Posts: 25,168 Mod ✭✭✭✭CramCycle


    dahat wrote: »
    Random post but my wife's employer refuses to do this scheme.

    Any way around this?

    Nope, bar badgering them and explaining the benefits (they do save money as well), there is no requirement to offer the scheme.


  • #1916
    Padre_Pio
    Registered Users, Registered Users 2 Posts: 5,349 ✭✭✭Padre_Pio


    Our work uses taxfreebicycles.com to manage the cycle to work scheme.

    They only seem to deal with certain bike shops in Ireland though. Has anyone used them and imported their own bike and gear?
    I have my eye on an Ebike that I could bring in from the US.


  • #1917
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,182 CMod ✭✭✭✭magicbastarder


    Padre_Pio wrote: »
    They only seem to deal with certain bike shops in Ireland though.
    to be fair, it's a reasonably comprehensive list.
    https://taxfreebicycles.com/public/cycle_shops.php


  • #1918
    Padre_Pio
    Registered Users, Registered Users 2 Posts: 5,349 ✭✭✭Padre_Pio


    magicbastarder wrote: »
    to be fair, it's a reasonably comprehensive list.
    https://taxfreebicycles.com/public/cycle_shops.php

    Oh I agree, but I have a particular bike in mind and i would have to get a shop to import it.


  • #1919
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,182 CMod ✭✭✭✭magicbastarder


    maybe email the manufacturer to ask have they any existing relationship with any shops on that list?

    however, i would be curious about what warranty options you might have on a bike which is potentially unique to ireland.


  • #1920
    Padre_Pio
    Registered Users, Registered Users 2 Posts: 5,349 ✭✭✭Padre_Pio


    magicbastarder wrote: »
    maybe email the manufacturer to ask have they any existing relationship with any shops on that list?

    however, i would be curious about what warranty options you might have on a bike which is potentially unique to ireland.

    Thats my problem, I doubt a shop would import a bike for me, especially an ebike, as they may be liable for it.

    Plus I'd prefer to buy myself, and pick up some gear on eBay or AliExpress.

    I have emailed taxfreebicycles so we'll see.


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  • #1921
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,182 CMod ✭✭✭✭magicbastarder


    you can't buy it yourself, the point of the scheme is that your employer buys it on your behalf and deducts the money from your gross salary.


  • #1922
    MJohnston
    Registered Users Posts: 10,666 ✭✭✭✭MJohnston


    Anyone seen a shop in the scheme that stocks either the Volt Pulse LS or the GTech City?

    With all these ebike manufacturers that do direct sales via internet, the cycle to work scheme is really starting feel limited.


  • #1923
    iwillhtfu
    Registered Users, Registered Users 2 Posts: 6,373 ✭✭✭iwillhtfu


    I don't know about the particular brands you mention but greenaer bikes in mullingar do btw and have a good variety of brands.


  • #1924
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,182 CMod ✭✭✭✭magicbastarder


    MJohnston wrote: »
    With all these ebike manufacturers that do direct sales via internet, the cycle to work scheme is really starting feel limited.
    the cycle to work scheme is not limited at all in terms of where you can buy - if you can't buy online, that's your employer that's limiting it, it's not a limitation in the scheme itself.


  • #1925
    RugbyLover123
    Registered Users Posts: 1,564 ✭✭✭RugbyLover123


    Quick question regarding the scheme:

    I’m currently on it and have been for a few months. I am switching jobs and my new employer has agreed to pay off the remaining balance. I presume this is possible? And is just paid up to my current employer?

    Thanks.


  • #1926
    CramCycle
    Moderators, Sports Moderators Posts: 25,168 Mod ✭✭✭✭CramCycle


    RugbyLover123 wrote: »
    Quick question regarding the scheme:

    I’m currently on it and have been for a few months. I am switching jobs and my new employer has agreed to pay off the remaining balance. I presume this is possible? And is just paid up to my current employer?

    Thanks.

    The scheme is operated between you and your employer, it does not transfer between employments. If you leave, they can ask for the remainder to be taken in a lump sum from your last paycheque which is the norm ( I have heard of tsome just forgettign about it but I imagne this is rare). If your new employer is offering to pay it off, then they would simply be handing you a bonus to make up for the loss of wages from your last paycheque.


    If you have a balance of 500euro left, lets say 6 months of payments. Your current employer will simply take 500euro from your last paycheque, s your take home pay will be 500 - tax etc. less. If your new employer wants to make this upto you, they would add 500euro onto the gross of your first paycheque, basically a bonus.

    Personally, I would be cautious that your new employer is not basically running the scheme again for you in their eyes, so you can't use it with them for 5 years.


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  • #1927
    MJohnston
    Registered Users Posts: 10,666 ✭✭✭✭MJohnston


    Surely you can’t run it with them anyway for 5 years? As in, the 5 year limit is not per-employer, it’s per-person


  • #1928
    iwillhtfu
    Registered Users, Registered Users 2 Posts: 6,373 ✭✭✭iwillhtfu


    MJohnston wrote: »
    Surely you can’t run it with them anyway for 5 years? As in, the 5 year limit is not per-employer, it’s per-person

    That's a bit of a grey area the wording of the scheme could be read either way.


  • #1929
    CramCycle
    Moderators, Sports Moderators Posts: 25,168 Mod ✭✭✭✭CramCycle


    MJohnston wrote: »
    Surely you can’t run it with them anyway for 5 years? As in, the 5 year limit is not per-employer, it’s per-person
    iwillhtfu wrote: »
    That's a bit of a grey area the wording of the scheme could be read either way.

    Indeed, it reads as per employment to me, I have used it more than once in a 5 year period when I switched jobs. Happy to pay it back if revenue tell me I am wrong. Others read it as per person, which the way the system is implemented, with the employer holding the records and not revenue, is untenable to police in its current form.


  • #1930
    MJohnston
    Registered Users Posts: 10,666 ✭✭✭✭MJohnston


    Oh interesting. I always read it as per-person! It's been more than 5 years for me anyway, but my wife needs an e-Bike and only just used hers with another employer about 1-2 years ago, so this will be very welcome news.


  • #1931
    Idioteque
    Registered Users, Registered Users 2 Posts: 630 ✭✭✭Idioteque


    Revenue states you can only use the “scheme” once every 5 years so I think it’s pretty clear what the intention is regardless of switching employer.

    In saying that, I do think it should be reduced to every 2 years as some people commute a lot on their bikes but then I guess the hard-core eco warriors would probably complain of the extra materials being used on new bikes due to the increased demand for new bikes. I think I heard somewhere before the UK scheme is every 1 or 2 years


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  • #1932
    AndrewJRenko
    Registered Users, Registered Users 2 Posts: 29,457 ✭✭✭✭AndrewJRenko


    Idioteque wrote: »
    Revenue states you can only use the “scheme” once every 5 years so I think it’s pretty clear what the intention is regardless of switching employer.

    In saying that, I do think it should be reduced to every 2 years as some people commute a lot on their bikes but then I guess the hard-core eco warriors would probably complain of the extra materials being used on new bikes due to the increased demand for new bikes. I think I heard somewhere before the UK scheme is every 1 or 2 years
    There should certainly be some exemption for those who've had a bike stolen (though I know it would be very hard to police this).


    It's interesting to contrast the subsidy available for electric vehicles of thousands of euro, and the negligible support for cyclists - no subsidy for eBikes.


  • #1933
    Mc Love
    Registered Users, Registered Users 2 Posts: 14,015 ✭✭✭✭Mc Love


    I'm currently in the process of moving jobs, and I'll be trying to go for an e-bike despite only having my current bike for just over a year. my distance will be going from 5km to 12km and I'd rather have the assistance of a e-bike for that extra bit.


  • #1934
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,182 CMod ✭✭✭✭magicbastarder


    what sort of route? and do you have showers in work?


  • #1935
    Mc Love
    Registered Users, Registered Users 2 Posts: 14,015 ✭✭✭✭Mc Love


    magicbastarder wrote: »
    what sort of route? and do you have showers in work?

    First 6km is road, last 6km is pathway. Mostly flat. If there are showers in my new place, then I probably wont bother, but hate arriving in sweaty as it can take a while to cool down.


  • #1936
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,182 CMod ✭✭✭✭magicbastarder


    12km is very doable, though, electric or normal bike.


  • #1937
    Mc Love
    Registered Users, Registered Users 2 Posts: 14,015 ✭✭✭✭Mc Love


    Yeah went for a test run, I could go a shorter route but it's hilly and has the added bonus of not having any cycle lane/dealing with motor traffic the whole way.


  • #1938
    grogi
    Registered Users, Registered Users 2 Posts: 8,615 ✭✭✭grogi


    AndrewJRenko wrote: »
    There should certainly be some exemption for those who've had a bike stolen (though I know it would be very hard to police this).

    No, there shouldn't. Insure your bike and should it get stolen, you'll get the retail price back.
    AndrewJRenko wrote: »
    It's interesting to contrast the subsidy available for electric vehicles of thousands of euro, and the negligible support for cyclists - no subsidy for eBikes.

    Indeed, there should be an additional allowance for an e-bikes.


  • #1939
    AndrewJRenko
    Registered Users, Registered Users 2 Posts: 29,457 ✭✭✭✭AndrewJRenko


    grogi wrote: »
    No, there shouldn't. Insure your bike and should it get stolen, you'll get the retail price back.
    It's an interesting idea, but bike insurance is very expensive for non home owners who don't have the option to add it to their home insurance - about 10% of the cost of the bike per annum.
    506587.JPG

    So over a five year BTW period, you'll have paid half the retail cost of the bike on insurance, which doesn't really make sense.


  • #1940
    SmartinMartin
    Registered Users, Registered Users 2 Posts: 2,937 ✭✭✭SmartinMartin


    Just a heads-up for anyone in education using this scheme to purchase from Halfords.
    Halfords use One for All for the scheme, so when you apply the Department gives OFA the go ahead who issue a debit card to the required amount in your name. However, due to GDPR the Department will not pass on your address or contact details to them, so the card will sit in their office until you ring OFA.


  • #1941
    FFVII
    Registered Users Posts: 1,382 ✭✭✭FFVII


    I thought I read something bout it being shortened but revenue website still 5 years it says but it's not updated in a year?


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  • #1942
    juicer
    Registered Users Posts: 24 ✭juicer


    i think they're planning on shortening it but don't think anything actually happened yet.


  • #1943
    Seth Brundle
    Moderators, Politics Moderators Posts: 40,298 Mod ✭✭✭✭Seth Brundle


    How often can I use the scheme?
    Once every five years. This applies even if the cost of the bicycle and safety equipment was less than €1,000.

    The tax year in which the bicycle is provided counts as the first year. For example, if you used the scheme during any month in 2014, you can use the scheme again from 1 January 2019.
    https://www.revenue.ie/en/jobs-and-pensions/taxation-of-employer-benefits/cycle-to-work-scheme.aspx

    mod note - no advising on how to commit tax fraud, thank you!


  • #1944
    Rezident
    Registered Users Posts: 1,804 ✭✭✭Rezident


    There's a post on the first page saying that if you are public sector, they only use an approved list of retailers, but the link seems to have expired. Is that still the case i.e. does the public sector allow you to use online retailers like Canyon?

    They use one4all, apparently.


  • #1945
    iwillhtfu
    Registered Users, Registered Users 2 Posts: 6,373 ✭✭✭iwillhtfu


    Rezident wrote: »
    There's a post on the first page saying that if you are public sector, they only use an approved list of retailers, but the link seems to have expired. Is that still the case i.e. does the public sector allow you to use online retailers like Canyon?

    They use one4all, apparently.

    I'm not sure about the public sector stance but I doubt canyon accept one4all vouchers and they don't accept part payments.


  • #1946
    AndrewJRenko
    Registered Users, Registered Users 2 Posts: 29,457 ✭✭✭✭AndrewJRenko


    Rezident wrote: »
    There's a post on the first page saying that if you are public sector, they only use an approved list of retailers, but the link seems to have expired. Is that still the case i.e. does the public sector allow you to use online retailers like Canyon?

    They use one4all, apparently.

    You'd need to be more specific. The public sector is a big place, and different rules apply in different organisations.


  • #1947
    dinneenp
    Registered Users, Registered Users 2 Posts: 8,153 ✭✭✭dinneenp


    Hi,

    I'm going to buy a road bike once bike shops reopen & my company has a window for the BTW scheme. I posted a thread for recommendations & Tony04 replied with 2 nice articles for recommendations.

    I'd like to buy in a bricks & motar store for help with sizing etc. So what stores in Ireland have the best selection, are there one or two that jump out? I'm in Galway but willing to travel.
    Cheers,
    Pa.


  • #1948
    what_traffic
    Registered Users, Registered Users 2 Posts: 5,002 ✭✭✭what_traffic


    dinneenp wrote: »
    Hi,

    I'm going to buy a road bike once bike shops reopen & my company has a window for the BTW scheme. I posted a thread for recommendations & Tony04 replied with 2 nice articles for recommendations.

    I'd like to buy in a bricks & motar store for help with sizing etc. So what stores in Ireland have the best selection, are there one or two that jump out? I'm in Galway but willing to travel.
    Cheers,
    Pa.
    If your employer uses a broker like travelhub.ie - might be best to know this first in helping narrowing down what is available for you.


  • #1949
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,182 CMod ✭✭✭✭magicbastarder


    best to go local if you can, as most shops will throw in a free service a month or two after you buy, and it's easier in case of warranty issues.


  • #1950
    dahat
    Registered Users, Registered Users 2 Posts: 16,826 ✭✭✭✭dahat


    I wonder will they ever look to being the scheme down from 5 years to 3 at some stage?


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  • #1951
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 50,182 CMod ✭✭✭✭magicbastarder


    based on what though?
    i think it'd be more helpful for them to look at VAT bands on bikes and bike kit. less regressive, too.


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