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Bike to work scheme.

  • 05-09-2010 5:03pm
    #1
    Madame Razz
    Closed Accounts Posts: 13,252 ✭✭✭✭


    Is the cycle/bike to work scheme better here or in the UK??


Comments

  • #2
    funkyjebus
    Registered Users, Registered Users 2 Posts: 1,547 ✭✭✭funkyjebus


    depends which country you live in;)


  • #3
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 77,701 Admin ✭✭✭✭✭Beasty


    Theoretically, as I am subject to PAYE in both countries, I could participate in both schemes. The commute to London would be challenging though!


  • #4
    Idleater
    Registered Users, Registered Users 2 Posts: 6,236 ✭✭✭Idleater


    Beasty wrote: »
    The commute to London would be challenging though!
    Do the UK scheme rules allow only "full" commutes rather than "partial" commutes as they specify here?

    I mean, could you not buy a UK bike to get you to/from your house to/from the air/sea port?
    :D


  • #5
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 77,701 Admin ✭✭✭✭✭Beasty


    The main differences are the UK limit is slightly higher (£1k v €1k in Ireland), and under the UK scheme the employer retains ownership of the bike, whereas in Ireland the employee takes ownership immediately. Of course the tax benefits are driven by your marginal tax rates (tax, social security, levy) in the relevant country.


  • #6
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 77,701 Admin ✭✭✭✭✭Beasty


    Partial commutes are fine. Both schemes require the intention to use the bike "mainly" for commuting.


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  • #7
    mike12
    Registered Users, Registered Users 2 Posts: 2,331 ✭✭✭mike12


    Beasty wrote: »
    Partial commutes are fine. Both schemes require the intention to use the bike "mainly" for commuting.
    But its impossible to police.


  • #8
    Madame Razz
    Closed Accounts Posts: 13,252 ✭✭✭✭Madame Razz


    Beasty wrote: »
    The main differences are the UK limit is slightly higher (£1k v €1k in Ireland), and under the UK scheme the employer retains ownership of the bike, whereas in Ireland the employee takes ownership immediately. Of course the tax benefits are driven by your marginal tax rates (tax, social security, levy) in the relevant country.

    So basically, work out on which scheme you would be better off on based on said tax, social security and levy and go with that??

    Are bikes not slightly better value in the UK tho?? I'm thinking of going with a Cannondale hybrid.


  • #9
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 77,701 Admin ✭✭✭✭✭Beasty


    mike12 wrote: »
    But its impossible to police.
    It's primarily down to employers to "police" it. Most employers will simply take the employee's word on what their intention is/was. But I, for one, would not be prepared to sign a declaration that my intention was to use a bike mainly for commuting if that was not my intention.


  • #10
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 77,701 Admin ✭✭✭✭✭Beasty


    @Madame Razz (can't quote properly from phone). Work out where you work! If in Ireland and you are subject to Irish PAYE you can only use the Irish scheme, unless you are also employed in the UK. Your employer can buy the bike from the UK or Ireland (including mail order) or wherever they like. That is down to them.


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