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

ted1

niamh.foley wrote: »

just after speaking to the Finance person, we use a company called Euro treck Rally any one hear of them ?

so its Vouchers that we get and Planet X dont do Vouchers joke!!

Thry do Felt bikes which have a pretty good reputation.

CramCycle

niamh.foley wrote: »

just after speaking to the Finance person, we use a company called Euro treck Rally any one hear of them ?

so its Vouchers that we get and Planet X dont do Vouchers joke!!

I think that should be "Euro Trek Raleigh", basically look at Eurocycles/eurobaby .

rubadub

Is there any talk of the €1000 limit being increased. And do you think it would only happen in the budget?

And do you think there would be any comeback at all for someone "stung" buying a bike 1 day too early.

It would be nice if you could double it if you doubled your time frame, i.e. €2000 and not allowed get it again for 10 years.

CramCycle

rubadub wrote: »

Is there any talk of the €1000 limit being increased. And do you think it would only happen in the budget?

None at all AFAIK. I don't see it happening as 1000 is more than enough for a commuter and necessary extras.

And do you think there would be any comeback at all for someone "stung" buying a bike 1 day too early.

None, but you will qualify the scheme again a year earlier if you can get it this year.

dogsears

rubadub wrote: »

Is there any talk of the €1000 limit being increased. And do you think it would only happen in the budget?

It could conceivably happen outside the context of a Budget, but its not going to happen. Its more likely to be abolished entirely, but that's still unlikely.

nutini

Hello, can anyone tell me if it makes a difference to the percentage you get off the bike if it's paid in one paycheck or over a course of months? Or will it all be balanced at the end of the year anyway, for example if you have periods where you make more money and are in the higher bracket of tax should you try to pay off the bike then or will you still get the full reduction once you earn at least 1k at the higher rate over the course of the tax year?

AlmightyCushion

nutini wrote: »

Hello, can anyone tell me if it makes a difference to the percentage you get off the bike if it's paid in one paycheck or over a course of months? Or will it all be balanced at the end of the year anyway, for example if you have periods where you make more money and are in the higher bracket of tax should you try to pay off the bike then or will you still get the full reduction once you earn at least 1k at the higher rate over the course of the tax year?

Income tax is based on your annual income so it won't make a difference.

CramCycle

In terms of the tax, it is all balanced out in the tax year you make the payments. Eg if you pay half this year and the other half next year the same amount will be deducted from both tax years. Basically if you are paying more this year than next, pay it off this year. If your wages won't change then it doesn't matter and so on.

Some one earlier in the thread mentioned a small saving in PRSI if paid at once but it seemed negligible.

Fender76

A mate wants to know...

Any experience?

Lumen

In principle, yes. In practice, it depends how flexible your employer is.

http://www.boards.ie/vbulletin/showthread.php?t=2056382170

ChickenBalls

In the process of doing this - it's up to the bike shop if they will do it or not. Friend of mine's cousin is the owner of one so a little persuasion was needed to get him to do it.

Lumen

ChickenBalls wrote: »

In the process of doing this - it's up to the bike shop if they will do it or not. Friend of mine's cousin is the owner of one so a little persuasion was needed to get him to do it.

That's not true, although it depends on what you mean by "do it".

The bike to work scheme doesn't require anything special from the shop, although in the case on non-Irish vendors it makes it easier if they don't charge the VAT.

Fender76

Thanks guys.. the reason I'm asking is that Canyon don't distribute through shops.. its all online, so how would that work,..?

CramCycle

Fender76 wrote: »

Thanks guys.. the reason I'm asking is that Canyon don't distribute through shops.. its all online, so how would that work,..?

Your employer would buy the bike you like online, thats it.

RJM85

Canyon couldnt / wouldn't issue an ex Vat invoice when I tried to buy off them through the btw. Ended up buying a bike through CRC

ChickenBalls

Lumen wrote: »

That's not true, although it depends on what you mean by "do it".

The bike to work scheme doesn't require anything special from the shop, although in the case on non-Irish vendors it makes it easier if they don't charge the VAT.

"Do it" as in buy the bike for me so I can use *cough* bike to work scheme(s)! That's the reason behind it.

I did contact Canyon directly about using bike to work scheme and this is what they said:

"In order to use the Cycle to Work scheme in Ireland you need to purchaser the bike as normal on www.canyon.com. Then on the checkout make sure that the company name(Employeer) is listed as the billing address.

Then on the payment page you will need to select "Pre-Payment", this will then generate an invoice which contains the bank details for Canyon Germany. Your company will then need to pay by international bank transfer."

Beasty

Merged

Kevincavan83

Just wondering if anyone has managed to get a bike from wiggle.co.uk on the btw scheme.
From some info i got from a list of suppliers for (hse scheme) it has wiggle on the list, but when i mailed the customer services for information, they said they only offer it to uk residents.

godtabh

if its on your list just order it and get an ex vat invoice.

iwillhtfu

Kevincavan83 wrote: »

Just wondering if anyone has managed to get a bike from wiggle.co.uk on the btw scheme.
From some info i got from a list of suppliers for (hse scheme) it has wiggle on the list, but when i mailed the customer services for information, they said they only offer it to uk residents.

Just on a side note do they still offer the additional 10% on the public sector bike2work?

Kevincavan83

godtabh wrote: »

if its on your list just order it and get an ex vat invoice.

Thats what i was hoping.
But they said they only deal with uk so will have to wait until the admin is back after holidays to find out for definite

Kevincavan83

iwillhtfu wrote: »

Just on a side note do they still offer the additional 10% on the public sector bike2work?

Wiggle or just btw scheme (never heard that before)

iwillhtfu

Kevincavan83 wrote: »

Wiggle or just btw scheme (never heard that before)

Maybe I was day dreaming when I read up on it before.

Some info here on it. It's something to do with extra levies etc.

http://www.boards.ie/vbulletin/showthread.php?t=2055992622

custom_build

hi, I have a hopefully simple question of which I am unsure.
If you are getting a bike for 1500euro, does your company pay the shop 1500 and you pay that sum off over a stated period of time or does your company pay 1000 and you have to pay the 500 upfront yourself. I hope thats clear, any knowledge would be great.

Beasty

The company needs to buy the bike, and you pay them for it via the salary sacrifice. If there's more to pay than the amount they permit under the scheme it depends on how the company wishes to deal with it. They can ask for the excess up front or allow you to repay it alongside the salary sacrifice

custom_build

Thank you

CramCycle

Kevincavan83 wrote: »

Thats what i was hoping.
But they said they only deal with uk so will have to wait until the admin is back after holidays to find out for definite

NOthing to do with Wiggle, your company just needs to buy the bike, Wiggle will just see the transaction as a regular customer, a co worker and a user here bought one in recent months from Wiggle.

Kevincavan83

CramCycle wrote: »

NOthing to do with Wiggle, your company just needs to buy the bike, Wiggle will just see the transaction as a regular customer, a co worker and a user here bought one in recent months from Wiggle.

Thats good to hear : )
Do you know how the got an invoice for the bike.
I work in a hospital with a few thousand employees and they look for an invoice with VAT no. Etc

CramCycle

Kevincavan83 wrote: »

Thats good to hear : )
Do you know how the got an invoice for the bike.

I think he just printed off the checkout page, if you need an official invoice you will probably have to ring Wiggle customer service and say that it is going through the company books and an invoice is required before purchase. I would not mention the bike to work scheme as it will be confused with the english one. They may not do it as prices fluctuate daily.

I work in a hospital with a few thousand employees and they look for an invoice with VAT no. Etc

VAT no. is on the website, your receipt from the purchase will also have this. How will your company pay maybe a bigger issue. If its by card, there should be no issues, if its by cheque, again, you may need to ring Wiggle and see how they handle this.


From Wiggle: VAT Information
Wiggle prices currently include VAT at the UK rate of 20% where applicable. Customers in other EU countries may have to pay VAT depending on location. Customers outside of the European Union do not pay any VAT.

The VAT / sales tax shown in the Basket and in our Checkout is meant as a guide. The final VAT / sales tax amount will be shown on the printed invoice received with your items.

Helpneeded86

Do Wiggle pay Irish VAT? Is that how we can purchase from there? Im kind of worried that I will be asked questions that i cant answer.