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

Beasty

kendragon wrote: »

I've just been informed by HR that they only allow us to purchase bikes from bike shops of their choosing. I feel this is wrong and against the rules of the scheme as set out by revenue. Can they pick and choose the bike shops?

Yes - entirely their prerogative to do so

They could also choose not to operate the scheme, so I wouldn't complain too much ...

kendragon

They used to run it themselves but now they use taxfreebicycles.com. so this crowd can pick and choose what shops you can deal with? Not exactly keeping in nature of the original scheme is it? Pay us commission or the employees of this company won't be allowed use the scheme with you.
Can't say I'm too surprised. It wouldn't be Ireland if someone wasn't getting screwed somewhere along the line. Even in an excellent government led scheme such as this.

3102derek

kendragon wrote: »

I've just been informed by HR that they only allow us to purchase bikes from bike shops of their choosing. I feel this is wrong and against the rules of the scheme as set out by revenue. Can they pick and choose the bike shops?

at least you can avail of the scheme. Our company wont do it.
And our MD is an avid cyclist :mad:

kendragon

3102derek wrote: »

at least you can avail of the scheme. Our company wont do it.
And our MD is an avid cyclist :mad:

Man, that sucks. Its really hard to understand why they wouldn't do it.

DaveMc40

Do we know for sure that if you bought in June 2009, that you can get a new one in Jan 2014? I ahve a query in with the tax office as I really want to avail of it again, but company is nervous of being caught out of I go now.....They want to wait until closer to June....Life time away for me :-)

dogsears

DaveMc40 wrote: »

Do we know for sure that if you bought in June 2009, that you can get a new one in Jan 2014? I ahve a query in with the tax office as I really want to avail of it again, but company is nervous of being caught out of I go now.....They want to wait until closer to June....Life time away for me :-)

Certain.

And see previous page on this thread for a reference to Tax Office agreeing this.

Beasty

DaveMc40 wrote: »

Do we know for sure that if you bought in June 2009, that you can get a new one in Jan 2014? I ahve a query in with the tax office as I really want to avail of it again, but company is nervous of being caught out of I go now.....They want to wait until closer to June....Life time away for me :-)

Yes - it's been covered several times in this thread

The legislation restricts it by reference to 5 consecutive years of assessment starting with the year in which the bike is first made available. If you first availed in June 2009 you can subjet to any restrictions imposed by your employer, avail of it again now.

CramCycle

3102derek wrote: »

at least you can avail of the scheme. Our company wont do it.
And our MD is an avid cyclist :mad:

Possibly explain to him the benefits other than for the employees is that for every employee who partakes he will save 108euro from PRSI he does not have to pay if the 1000 is used. 108 euro for what in theory should be 15 minutes work for one person in Payroll is not bad.

furyen

Hey ppl,
I have being trying to get the cycle to work scheme here to no avail, I am working for a big multi national company. Just looking for a way to get them involved any advise
Thanks.

what_traffic

furyen wrote: »

Hey ppl,
I have being trying to get the cycle to work scheme here to no avail, I am working for a big multi national company. Just looking for a way to get them involved any advise
Thanks.

pm sent

12gauge dave

Hi guys just wondering how long it takes on average from handing application in to employer and collecting bike?
Im with tesco haned my application in 8th January and their deadline for bike to work scheme was monday January 13th. Anyone else do a bike to work through tesco?

aFlabbyPanda

Beasty wrote: »

Yes - entirely their prerogative to do so

They could also choose not to operate the scheme, so I wouldn't complain too much ...

My company was the same and tbh we were limited to only one shop who were offering very little choice and inflated prices. IMO it should be a condition of the scheme that companies can't exclude shops. Its my money, rant over sorry.

Beasty

The_Sub wrote: »

Its my money

It's not though

It's the company's money. They buy the bike (although they may require you to agree to an equivalent salary sacrifice before passing it on)

aFlabbyPanda

Beasty wrote: »

It's not though

It's the company's money. They buy the bike (although they may require you to agree to an equivalent salary sacrifice before passing it on)

Not in my case, I had to pay for the bike.

CramCycle

The_Sub wrote: »

Not in my case, I had to pay for the bike.

In the B2W scheme, the company pays for the bike, then gives it to you on the basis that you will use it at least some of the time to commute to work. In return they take the value of the bike of your salary.

It's kind of like an IOU but they take the cash from you at source instead of you handing it over to them.

aFlabbyPanda

OK this is splitting hairs tbh, money came from my wages for a bike I received - we all agree on that. So how is that not my money paying for the bike? potayto / potato? So I still think I should decide where it goes.

Beasty

It's the company's scheme and they dictate the rules within the requirements of the legislation. To put it simply, they don't have to provide the facility at all if they don't want to

aFlabbyPanda

Jaysus lads, I well understand that scheme, I'm only offering an opinion that as the revenue are giving the tax break a simple condition is that companies can't control where the money is spend (if they are going to deduct it from staff).

If they are paying and giving you the bike then fine.

Beasty

A lot of people around here would be grateful just to have access to the scheme though. The Revenue are not going to dictate such matters when they don't enforce the scheme on employers (and there is no way they could even do that - that would be a complete departure from what happens with other benefits in kind and would probably open up a can of worms on the interaction between employment and tax laws)

Beasty

Think of it another way as well

Say a large employer negotiates significant discounts with a LBS - they want all their employees to deal with that LBS as it's administratively a lot less costly (and saves employees a lot more money at the expense of choice). Then someone says they want to deal with an online retailer in the UK for example - the employer simply may not want the hassle of dealing with that (including having to work through the VAT, currency and importing logistics) on a case by case basis

aFlabbyPanda

I agree, the more companies that do it the better. But there needs to be some sort of control.

I just checked my wage slips and my deductions for the BTW scheme were made after PAYE/PRSI, so it looks like my company were just running their own thing. I simply paid for the bike myself over 3 months.

CramCycle

The_Sub wrote: »

Jaysus lads, I well understand that scheme, I'm only offering an opinion that as the revenue are giving the tax break a simple condition is that companies can't control where the money is spend (if they are going to deduct it from staff).

If they are paying and giving you the bike then fine.

I agree with you but the fact of the matter is that alot of companies struggle to implement the scheme at all considering it to much hassle. If you impose conditions like that, alot of companies will pull out. Don't get me wrong, it is incredibly easy to implement and pays for itself but some companies or more importantly some payroll departments, just don't want the 5 minutes extra work, regardless of the benefits.

CramCycle

The_Sub wrote: »

I agree, the more companies that do it the better. But there needs to be some sort of control.

I just checked my wage slips and my deductions for the BTW scheme were made after PAYE/PRSI, so it looks like my company were just running their own thing. I simply paid for the bike myself over 3 months.

I would be ringing payroll immediately then, its a simple mistake to make where they have added it in as a voluntary deduction after tax. It should not be a big issue to rectify. They could lower your wages next month by the cost of the bike and pay you the money taken as gross seperately.

it should work but that is just off the top of my head.

Nuttzz

Yes I'm a hardened motorist and yes I'm considering joining the dark side

I'm interested in Cycle to work scheme and would be grateful if you guys and gals could share your recommendation for a bike?

For example I've looked at these two (only online) and to be honest I couldnt tell the difference

http://shop.pennyfarthingcycles.com/product-p/pl-shad.htm

http://shop.pennyfarthingcycles.com/product-p/es-3.htm


Budget is a consideration, but would stretch it to 500 for the right bike

Zen0

Tell us a bit more about your commute. How far, how often do you plan to cycle, do you think you will use the bike for other purposes etc.

The Giant is a good basic bike. I know nothing about the other bike, but it seems very cheap. It is possible for a bike to be too cheap, too many poor components, materials etc.

mrcheez

Zen0 wrote: »

It is possible for a bike to be too cheap, too many poor components, materials etc.

+1. Go for the most expensive bike you can afford as it generally pays off in the long run.

Of the two you submitted go for the Giant.

EDIT: Why not go a little further and spend 599 on the Giant Rapid 4 http://shop.pennyfarthingcycles.com/product-p/rd-4.htm ... considering how much you save buying a Bike to Work bike it's worth maximising the budget

Nuttzz

Thanks, the journey distance according to google maps is 10km, it's from a Dublin suburb to the city centre & back again

Tbh I wouldn't use it much other than commuting, and only then when the weather was reasonable (I know)

mrcheez

Nuttzz wrote: »

Thanks, the journey distance according to google maps is 10km, it's from a Dublin suburb to the city centre & back again

I do something similar and a hybrid like the ones you selected would work out fine. A nice light fast bike will get you into work and out in a jiffy.

A lot of people here recommend road bikes, but I find the more upright sitting position on the hybrid better suited to the stop-start pattern of inner-city cyling.

Nuttzz wrote: »

Tbh I wouldn't use it much other than commuting, and only then when the weather was reasonable (I know)

Again I used to be the same but a good set of mudguards and shoecovers will sort you

Zen0

Agree with mrcheeze, the Giant, or something similar would be fine for that commute. The only risk is that you become as addicted as most of us in here, in which case you might wish you had spent more. But the Giant is a fine commuting bike over that distance.

Best of luck with it, and let us know how you get on.

Nuttzz

Thanks guys much appreciated