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

byrnem31

https://www.boards.ie/discussion/comment/118440826#Comment_118440826

Sorry, defys are €2650.

byrnem31

https://www.boards.ie/discussion/comment/118440844#Comment_118440844

Penny farthing i find very good to deal with. Im using them years.

HeidiHeidi

https://www.boards.ie/discussion/comment/118440844#Comment_118440844

Sounds like it's an ordinary bike you're after, but on the offchance it's an electric bike you want, I can recommend Greenaer near Pearse Dart station, they were really helpful and great to deal with when I got my bike last year, but as far as I know they only do electric bikes.

JTMan

Thanks guys, I will check out Penny Farthing. Yeah, I'm after an ordinary bike.

byrnem31

Good holy lord its stressful trying to buy a bike in these days. Im willing to wait a few months for a cube agree c62 but the next one that the shop gets in is already sold. They dont know when they could get me one so there is no point in taking my ctw off me. Its madness out there. Im not willing to get anything else so that's not helping either.

MojoMaker

I know a shop with an Agree in stock and no buyer. But size 58 - probably too big?

loyatemu

I have a Cube on order since August, they emailed me this week to say it would be built in May!

Getting tempted by PlanetX again now they've sorted their VAT issues, but it's still a bit of a lottery as to whether I'd have to pay customs on it, and obviously no comeback if the sizing is off, so I should just wait for the Cube. I should...

byrnem31

https://www.boards.ie/discussion/comment/118454580#Comment_118454580

Yeah too big thanks though.

byrnem31

https://www.cyclesuperstore.ie/shop/pc/viewPrd.asp?idproduct=167075

This is what you're up against if buying a bike these days. 1050 for a claris alliminium that looks like it was welded by stevie wonder. Its not the shops fault, it just whats out there.

seantobin43

I'm confused with the bike to work scheme. So I work for my father its just the two of us in the business. I'm looking at a bike at the moment and it's €1024. I understand that he has to purchase my bike but can I just pay him back for the bike in full minus the taxes and get it cheaper instead of the salary sacrifice over the 12 months?

Idleater

https://www.boards.ie/discussion/comment/118573007#Comment_118573007

No, you get paid €1024 less, but from your gross pay.

magicbastarder

AFAIK it's between you and your employer whether your salary will drop by 1024 in total over 12 equal monthly deductions or whether it's done with bigger deductions over a shorter period. it's not really a case of you paying him back for it. he just pays you less.

CramCycle

https://www.boards.ie/discussion/comment/118573007#Comment_118573007

As others have said, nope, the company has to buy the bike and then just pay you 1024 less over the next 12 months in regards your gross pay. The tax saving is from your non payment of tax on that amount of your wages, not VAT or any other tax

GrumpyMe

https://www.boards.ie/discussion/comment/118573992#Comment_118573992

As far as I know, if your employer, the company, wants they can waive any repayment by you and let you have the bike tax free, free gratis and for nothing.

Idleater

https://www.boards.ie/discussion/comment/118620448#Comment_118620448

Citation needed.

Who owns the bicycle?

I have no doubt that a company can purchase a bicycle, but would do so outside the BTW scheme, and would pay taxes as part of the the transaction. It would be company property though.

Squidgy Black

https://www.boards.ie/discussion/comment/118620473#Comment_118620473

Revenue say it on their site about the bike to work.

”Your employer may buy the bicycle and not require you to pay for it. In this case, you will be exempt from tax on the benefit of the cost of the bicycle up to €1,250. If the bicycle is a pedelec or ebike, the exemption is €1,500.”

https://www.revenue.ie/en/jobs-and-pensions/taxation-of-employer-benefits/cycle-to-work-scheme.aspx

CramCycle

Have yet to meet a company who do it though

Our place gives €250 on top of the scheme, not gotten around to finding out how it works.

I assume it's due to the fact that many in the company are relatively young wouldn't be on the higher tax rate so it's to make it more worth while for those people. Mental note to self to find out this week.

CramCycle

https://www.boards.ie/discussion/comment/118631685#Comment_118631685

You can give a gift of €250 tax free as a bonus (one 4all cards etc.), I imagine that is how they got around it

seanin4711

contracting atm with a medical device company.

Seems like i am limited to Bricks and mortar shops in ireland,not even online.

why cant i avail of online offers in Germany etc?

thanks

J

cletus

It's down to the company what shops they will deal with. The scheme itself doesn't dictate this

DaveyDave

There's nothing stopping companies offering online sales, they just don't want to. I'm not sure what companies find off putting about it but my application was very quick, no questions asked.

My employer specifically didn't want to use an outsourced company because they take a cut for very little work. I think they literally just make the payment on their behalf and that's it?

CramCycle

https://www.boards.ie/discussion/comment/118653925#Comment_118653925

Your employer is very decent then and smart to realise it really adds no extra work but takes money out of your pocket and the shops

magicbastarder

my company also has a policy of only using bricks and mortar shops in ireland - partly because the payment method is simply the team assistant ringing them and paying over the phone. not something you can really do with canyon, i guess.

plodder

https://www.boards.ie/discussion/comment/118633928#Comment_118633928

Nothing to do with BTW, but that's only technically allowed if it's given to all employees. Our company was audited on this, and because they were doing it thru what amounts to a voluntary, salary sacrifice, they were pulled up on it. They stopped the whole scheme over it. It's worth €1,000 a year now, and we can't avail of it any more. 😣

andyd12

Are bikes bought through the scheme from chain reaction cycles/wiggle exempt from import charges?

Do we have to buy from someone on the supplier list?

Bikediscount.de offer real well spec'd Radon bikes. Wondering does my employer have to stick to the official list

Seth Brundle

https://www.boards.ie/discussion/comment/118719293#Comment_118719293

I know that they (CRC) used to say something to the effect that the price you see is the price you pay but I can't see it listed on their website - their Brexit FAQs page still exists but I don't think it is linked to from the rest of the site.

I do see this on the CRC T&C page:

If your delivery address is outside of the UK, you may be required to pay import duties and taxes when your CRC order reaches your destination country. These and any additional charges for customs clearance are your responsibility. All orders are fulfilled and despatched from the UK.

Delivery costs will be charged in addition; such additional charges are clearly displayed where applicable and included in the 'Grand Total'.

As for a "supplier list" - there is none unless your company limit you to one. Even CRC outside of the EU facilitate the scheme. If your employer is happy to buy from BikeDiscount then that's fine.

magicbastarder

i can't see why bikes bought through the scheme would be exempt from import charges.

as to whether you can buy through someone on the supplier list, you can buy from anyone your employer will allow you buy from, as long as it's a retail purchase.

JMcL

https://www.boards.ie/discussion/comment/118720940#Comment_118720940

You had me in a bit of a panic for the moment as I'm waiting Godot like for an Elite trainer to appear on the Fastway tracking page, however looking at their delivery page (https://www.chainreactioncycles.com/ie/en/customer-service/my-delivery-faqs#will-i-be-charged-customs-charges-and-how-much-will-these-be) the have the following:

[b]Will I be charged Customs charges and how much will these be?[/b]

Items shipped to the EU and Norway

No customs or import taxes will be charged

[b]Will my local Value Added Tax (VAT) or Goods & Services Taxes (GST) be included in the product price?[/b]

Items shipped to the EU and Norway

The relevant rate of local VAT will be applied based on the product(s) included within your order, the VAT will be displayed in the product price and no further charges relating to VAT will be incurred.

So what you see is what you pay - they deal with Revenue and submit the Irish VAT (well, hopefully they do!)

Also, I didn't get charged for delivery contrary to what the "Brexit FAQs" page says, so I would assiume that's now out of date

Seth Brundle

Cool - I went looking for that note yesteray and obviously didn't find it.