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

The_Pete_Fella · 02-07-2015 10:08am

xebec wrote: »

My understanding of trade across the EU is limited, but why would you expect to purchase the bike VAT free? If you did get it VAT free then surely your employer would have to apply Irish VAT to it before charging you for the bike and remit that to Revenue?

yes, that is exactly what we are trying to do and is the way that the BTW scheeme recoginises bikes purchased from forigne. I dont want to pay irish and UK Vat on it though and then have to claim the UK vat back as this will be a nightmare for the company.

Beasty · 02-07-2015 10:16am

Threads merged

OP - please read the Charter and in particular the FAQs

omri · 02-07-2015 10:25am

Can one buy bike trailer for carrying the kids under the B2W scheme, along with the bike itself ?

Beasty · 02-07-2015 10:28am

omri wrote: »

Can one buy bike trailer for carrying the kids under the B2W scheme, along with the bike itself ?

No - whole bikes and specified (safety/security related) accessories only

omri · 02-07-2015 10:31am

Beasty wrote: »

No - whole bikes and specified (safety/security related) accessories only

Bugger

The_Pete_Fella · 02-07-2015 10:35am

Beasty wrote: »

Threads merged

OP - please read the Charter and in particular the FAQs

Hi Beasty,

I am not looking for advice on the bike to work scheme, I am looking for someone who had dealt with canyon to forward me there ticket number. I didn’t want to put it in here as it would go unnoticed by my targeted audience as most of the people who will come in here are people looking for info on the BTW and not people who have already availed of it. but thanks.

CramCycle · 02-07-2015 10:54am

The_Pete_Fella wrote: »

Hi Beasty,

I am not looking for advice on the bike to work scheme, I am looking for someone who had dealt with canyon to forward me there ticket number. I didn’t want to put it in here as it would go unnoticed by my targeted audience as most of the people who will come in here are people looking for info on the BTW and not people who have already availed of it. but thanks.

You are more likely to find someone who availed of the BTW and used Canyon here though, rather than a stand alone thread that will drop off quite quickly.

You also will, hopefully, feed back with any info you get for other posters in the future.

mcgratheoin · 02-07-2015 12:05pm

The_Pete_Fella wrote: »

yeah but the bike is being distributed from canyon UK so I am paying vat to hm.

AFAIK Canyon are registered for Irish VAT so even though it's distributed from the UK you're not paying VAT to HMRC - similar situation as wiggle & chainreaction.

I don't have the invoice handy at the moment, but I'll see if I can root it out and check the VAT situation on it.

retalivity · 05-07-2015 1:16pm

Is there any allowance for stolen bikes?
I got a bike at the start of the year through the scheme, which has since been stolen. Can I claim another or do I have to wait 5 years?

Beasty · 05-07-2015 1:37pm

retalivity wrote: »

Is there any allowance for stolen bikes?
I got a bike at the start of the year through the scheme, which has since been stolen. Can I claim another or do I have to wait 5 years?

No - one every 5 years with no allowance should the bike be stolen

boysinblack · 22-07-2015 2:51pm

Anyone know if its true a Company cant tie you legally to one bike shop and can link me to backup for it?

beauf · 22-07-2015 2:59pm

I don't think the legality is the problem.

You're stuck with however your company decides to implement the scheme. They can choose not to do it at all.

CramCycle · 22-07-2015 3:01pm

boysinblack wrote: »

Anyone know if its true a Company cant tie you legally to one bike shop and can link me to backup for it?

Its not true. A company is not required to even allow the scheme. The only thing they must do is that if they provide it for one, they must provide it for all.

They can limit it to Joe neighbours bike shop, limit it to local shops only or have it open to all bike shops.

boysinblack · 22-07-2015 3:06pm

CramCycle wrote: »

Its not true. A company is not required to even allow the scheme. The only thing they must do is that if they provide it for one, they must provide it for all.

They can limit it to Joe neighbours bike shop, limit it to local shops only or have it open to all bike shops.

Not what I wanted to hear

Thanks for the response though!!

CramCycle · 22-07-2015 3:08pm

boysinblack wrote: »

Not what I wanted to hear

Thanks for the response though!!

My wife is getting it soon but she just found out that they run it through biketowork.ie, she is quite disappointed, limited negotiation with the shop and limited choice of shops.

ted1 · 22-07-2015 4:31pm

mcgratheoin wrote: »

AFAIK Canyon are registered for Irish VAT so even though it's distributed from the UK you're not paying VAT to HMRC - similar situation as wiggle & chainreaction.

I don't have the invoice handy at the moment, but I'll see if I can root it out and check the VAT situation on it.

If they sell more than 35k they must be registered for VAT in Ireland

http://www.revenue.ie/en/tax/vat/leaflets/foreign-suppliers.html#section1

JJJJNR · 22-07-2015 10:08pm

looks like i'll be buying a bike from a third party German website, how does the bike to work scheme work in this case, do I need to pay the full whack on the bike and claim back through my tax.

The bike is 2600 euros.

PaddyFagan · 22-07-2015 10:17pm

JJJJNR wrote: »

looks like i'll be buying a bike from a third party German website, how does the bike to work scheme work in this case, do I need to pay the full whack on the bike and claim back through my tax.

The bike is 2600 euros.

No the employer must directly pay the amount that you're getting the tax back on (so up to 1k).

Paddy

See http://www.revenue.ie/en/tax/it/leaflets/benefit-in-kind/cycle-work-faqs.pdf

JJJJNR · 22-07-2015 10:56pm

Ok cool, so I pay the 1600 to site, they send me receipt less 1k and then my employer sends the 1k to site.. is that correct.?

PaddyFagan · 23-07-2015 7:06am

JJJJNR wrote: »

Ok cool, so I pay the 1600 to site, they send me receipt less 1k and then my employer sends the 1k to site.. is that correct.?

My experience with my LBS was the reverse, they gave me an invoice for the full amount, my employers paid the 1K and then I paid the balance. But I don't know of any reason why the reversed order of payment would be an issue.

Paddy

TychoCaine · 23-07-2015 10:37am

PaddyFagan wrote: »

My experience with my LBS was the reverse, they gave me an invoice for the full amount, my employers paid the 1K and then I paid the balance. But I don't know of any reason why the reversed order of payment would be an issue.

Paddy

As long as the bike shop officially sell the bike to your employer and *not* you then it doesn't matter which order the payments are in.

um7y1h83ge06nx · 24-07-2015 12:40pm

Quick question. Someone in the pub told me that this scheme was ending thi year. Are they right?

Was thinking of taking up the offer next year maybe.

CramCycle · 24-07-2015 12:53pm

Emanuel Quiet Meadow wrote: »

Quick question. Someone in the pub told me that this scheme was ending thi year. Are they right?

Was thinking of taking up the offer next year maybe.

Someone in the pub says this every year, it never happens and there would seem to be no reason for it to happen. The loss to revenue is miniscule initially, the VAT is generally paid on the bikes at 21%, it would, on paper be contributing to a decrease in cost to the HSE over time and an increase in financial productivity in cities, so overall, a plus for the exchequer.

TL:DR It is highly unlikely to be scrapped, and if it was, there would be suufficient notice as many people would be in the middle of the deductions from their salary.

um7y1h83ge06nx · 24-07-2015 2:28pm

Thanks for that. Just after buying a house so watching the pennies. Was planning on buying a bike through the scheme early next year.

iwillhtfu · 24-07-2015 2:42pm

Emanuel Quiet Meadow wrote: »

Thanks for that. Just after buying a house so watching the pennies. Was planning on buying a bike through the scheme early next year.

You have your priorities all wrong my friend

um7y1h83ge06nx · 24-07-2015 3:33pm

iwillhtfu wrote: »

You have your priorities all wrong my friend

I'm grand, it's the other half I'll have to put you in touch with!

phelixoflaherty · 12-08-2015 6:20pm

All bike to work sites I fill my details into say that I can save 52% of cost but when I took this info to work they say I will only save on the vat( 23%).

Are the bike sites wrong or are work missing something

Undercover Elephant · 12-08-2015 6:33pm

phelixoflaherty wrote: »

All bike to work sites I fill my details into say that I can save 52% of cost but when I took this info to work they say I will only save on the vat( 23%).

Are the bike sites wrong or are work missing something

Your employers have it backwards. See the first four posts of the thread.

TychoCaine · 12-08-2015 9:59pm

phelixoflaherty wrote: »

All bike to work sites I fill my details into say that I can save 52% of cost but when I took this info to work they say I will only save on the vat( 23%).

Are the bike sites wrong or are work missing something

VAT is one thing you won't save. The scheme allows you to buy a bike from your gross salary, so you save the income tax you'd otherwise have to pay.

rubadub · 13-08-2015 6:21pm

The max is 51% if you are in the higher tax bracket. Many shops still have the older 52% quoted.

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

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