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

Beasty · 15-10-2013 4:24pm

RainyDay wrote: »

The problem arises when the bike shop realises that they just refuse to give you the refund, and you can do feck all about it. You can't sue them for failing to comply with their side of a tax fraud. They get paid twice by you. It will be the most expensive bike you'll ever buy.

To be absolutely clear - the shop are simply selling a bike - they have no interest in whether it's under the BTW scheme or not and are committing no fraud by selling the bike for cash now - only the person "buying" the bike is doing so when they claim it's under the BTW scheme

RainyDay · 17-10-2013 12:34pm

Beasty wrote: »

To be absolutely clear - the shop are simply selling a bike - they have no interest in whether it's under the BTW scheme or not and are committing no fraud by selling the bike for cash now - only the person "buying" the bike is doing so when they claim it's under the BTW scheme

A shop who gives a refund of cash paid earlier when they get their BTW payment after a couple of months is complicit in a tax fraud.

A customer who trusts a shop to give a refund when he knows that he has no way of enforcing that contract is very, very trusting.

Sad Professor · 17-10-2013 12:50pm

Once they have your money I can’t imagine why a shop would want to refund you. Especially since a lot of employers insist on using a third-party company to administer the scheme, who then charge the shop a fee for the trouble.

lochdara · 17-10-2013 3:45pm

I gave a €50 deposit to hold a bike while the b2w came through.. but the bugger sold my bike anyway, apparently by accident. I got sorted with a different bike and he gave me my deposit back but i got some extra stuff with it anyway,

sullzz · 17-10-2013 7:49pm

Hi folks , so the missus is thinking about upgrading her bike through the bike to work scheme she is a teacher so will be dealing with the dept of education , anyone know how these are to deal with , how quick they sort it etc. no one in her school has done it so she can't get any advice there , thanks in advance .

wirelessdude01 · 17-10-2013 9:15pm

sullzz wrote: »

Hi folks , so the missus is thinking about upgrading her bike through the bike to work scheme she is a teacher so will be dealing with the dept of education , anyone know how these are to deal with , how quick they sort it etc. no one in her school has done it so she can't get any advice there , thanks in advance .

Mine took about 6weeks to be processed.

sullzz · 17-10-2013 9:32pm

wirelessdude01 wrote: »

Mine took about 6weeks to be processed.

Thanks , is it true that they only do it only in certain months

wirelessdude01 · 17-10-2013 9:35pm

sullzz wrote: »

Thanks , is it true that they only do it only in certain months

Think so. I put mine through last year at the end of August and had the bike by mid October.

Smokeyskelton · 17-10-2013 11:41pm

The Mrs. put through an order through the Department of education last year. There was a cut off for the year, think it was the end of November, but the link below seems to contradict that.

Here is a link, hopefully that has the answers - http://www.education.ie/en/Education-Staff/Services/Payroll-Financial/Cycle-to-Work/

It seems a bit older, but most recent I could find.

padyjoe · 18-10-2013 6:29am

I don't want to be a smart@rse but to my surprise mine went through in 3-4 days. Still don't know I was lucky or not? (but had been thinking about which bike to get for nearly 3 months :-)))

Zorba · 23-10-2013 1:18am

I done the bike2work scheme a few months ago.

Bought a bike for €650 and i have to pay it back over 4 months. So i'm working out cos i'm on the lower tax bracket i should be paying around €400 for the bike, but so far over €565 has been deducted from my wages !

Am i missing something here ?

Hunterbiker · 23-10-2013 6:46am

Zorba wrote: »

I done the bike2work scheme a few months ago.

Bought a bike for €650 and i have to pay it back over 4 months. So i'm working out cos i'm on the lower tax bracket i should be paying around €400 for the bike, but so far over €565 has been deducted from my wages !

Am i missing something here ?

Is the repayment shown on your payslip as being taken from your gross pay (pay before tax) or net pay?

Zorba · 23-10-2013 9:15am

Hunterbiker wrote: »

Is the repayment shown on your payslip as being taken from your gross pay (pay before tax) or net pay?

Gross pay and i'm down more than expected on my net pay. The 565 quid is gone from my net pay.

Hunterbiker · 23-10-2013 9:26am

http://www.citizensinformation.ie/en/money_and_tax/tax/income_tax_credits_and_reliefs/cycle_to_work_scheme.html

Does this help?

You pay the cost of the bike back but as its not subject to tax and such like that is where the saving is derived from I believe.

Zorba · 23-10-2013 9:32am

Hunterbiker wrote: »

http://www.citizensinformation.ie/en/money_and_tax/tax/income_tax_credits_and_reliefs/cycle_to_work_scheme.html

Does this help?

You pay the cost of the bike back but as its not subject to tax and such like that is where the saving is derived from I believe.

Yeah checked that site out along with a few others, my understanding is if the bike costs 650 i'll pay around 400 for it but as i said so far i'm paying 565 plus i'm paying more paye too ! At this rate i would've been better just buying the bike outright

dogsears · 23-10-2013 10:46am

You say "so far" - where are you in the 4 months i.e. how many left to go? What do you mean you say you're paying more PAYE too - do you mean more then before you started the 4 months?

CramCycle · 23-10-2013 11:01am

@Zorba: If you have paid 565 so far, then that means you should only have 85 euro left out of your gross to pay. It looks like either they have a clerical error (my place done the same) or that they are deducting the cost over a shorter time period than 12 months (which they are perfectly entitled to do).

If it is option 1, get onto who ever sorts payroll and notify them.
If it is option 2, then nothing to worry about, deductions will stop shortly and you will still save.

Either way, 650euro will come out of your gross pay. The 400 is in relation to your net or "take home" pay reduction over the year.

The calculator here should give you a good idea of your actual reduction:
http://www.cyclesuperstore.ie/shop/pc/bike2work.asp

Zorba · 23-10-2013 11:13am

CramCycle wrote: »

@Zorba: If you have paid 565 so far, then that means you should only have 85 euro left out of your gross to pay. It looks like either they have a clerical error (my place done the same) or that they are deducting the cost over a shorter time period than 12 months (which they are perfectly entitled to do).

If it is option 1, get onto who ever sorts payroll and notify them.
If it is option 2, then nothing to worry about, deductions will stop shortly and you will still save.

Either way, 650euro will come out of your gross pay. The 400 is in relation to your net or "take home" pay reduction over the year.

The calculator here should give you a good idea of your actual reduction:
http://www.cyclesuperstore.ie/shop/pc/bike2work.asp

Thanks for all the replies

Rang payroll and got it sorted, turns out i was paying more tax but it wasn't for the bike, only started paying for the bike the last 2 months so will wait and see how much i end up paying.

My mistake

Ilac · 31-10-2013 9:38am

Hey! I finally got a call to say my bike was ready so I went to collect it only to discover it is the wrong colour. I'd never have bought this bike if it only came in this colour. I refused to take it out of the shop. The colour I test-drove and thought I was ordering was a once-off accident apparently. Salary sacrifies have already started and the bike shop has already been paid. What can I do now?

AltAccount · 31-10-2013 10:37am

Tell your payroll people and write a letter to the bike shop detailing the issue and letting them know your payroll dept will be contacting them to organise a refund?

mloc123 · 31-10-2013 4:35pm

I picked up a bike on the scheme in June 2009, I think every 5 years you are eligible for another one, does this mean I can pick up a new bike on the scheme in Jan 2014 or will I need to wait to June?

Beasty · 31-10-2013 4:43pm

mloc123 wrote: »

I picked up a bike on the scheme in June 2009, I think every 5 years you are eligible for another one, does this mean I can pick up a new bike on the scheme in Jan 2014 or will I need to wait to June?

January, as it's based on tax years, but that's subject to whatever your employer's scheme rules say

mloc123 · 31-10-2013 5:01pm

Beasty wrote: »

January, as it's based on tax years, but that's subject to whatever your employer's scheme rules say

Cheers, and I was sure there was a mega thread... I even searched but did not find it.

Beasty · 31-10-2013 5:27pm

mloc123 wrote: »

Cheers, and I was sure there was a mega thread... I even searched but did not find it.

It's not only in the FAQs, but also was still on the front page when you posted :pac:

mloc123 · 01-11-2013 12:12pm

Beasty wrote: »

It's not only in the FAQs, but also was still on the front page when you posted :pac:

oh dear

sullzz · 04-11-2013 7:27pm

So the missus put through her application for the bike to work with the dept of Ed . , she got a voice mail today saying that there is only one payment left this year ( which doesn't suit her to pay it out in one go ). She then said that they don't think it's going ahead for next year , did anyone else hear about that ?
Surely they would know by now if it was going to be going ahead if it runs from November to November ?
She is going to ring them back tomorrow afternoon , I'll repost after that to let ye all know what she finds out .

what_traffic · 05-11-2013 11:47am

sullzz wrote: »

So the missus put through her application for the bike to work with the dept of Ed . , she got a voice mail today saying that there is only one payment left this year ( which doesn't suit her to pay it out in one go ). She then said that they don't think it's going ahead for next year , did anyone else hear about that ?

Was not raised in the Budget 2013 so one must assume it will carry on for 2014.

wirelessdude01 · 05-11-2013 12:01pm

Individual employers can decide not to do it. In this cae the dept of ed can do that. Think that the HSE and another dept have stopped it.

sullzz · 05-11-2013 7:01pm

wirelessdude01 wrote: »

Individual employers can decide not to do it. In this cae the dept of ed can do that. Think that the HSE and another dept have stopped it.

That's correct an employer is not obliged to carry out the btw scheme if the don't want to , she rang the department today , as far as they know it's not being carried on next year , the final payment this year is being taken out of the salaries on the 21st , so the better half is going to go for it rather than possibly missing out on the scheme , so it looks like my upgrade is going to have to be put on hold for a few months as I'm going to have to partially fund hers :mad:

billyhead · 05-11-2013 7:28pm

sullzz wrote: »

That's correct an employer is not obliged to carry out the btw scheme if the don't want to , she rang the department today , as far as they know it's not being carried on next year , the final payment this year is being taken out of the salaries on the 21st , so the better half is going to go for it rather than possibly missing out on the scheme , so it looks like my upgrade is going to have to be put on hold for a few months as I'm going to have to partially fund hers :mad:

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?

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

Comments