Bike to Work Query

M

MoM

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I'm employed in a solicitors practice. My boss is a sole practitioner/trader.

Is there anything to preclude me from availing of the scheme?

I can't see that there is from the legislation but want to be 100% certain
 
Whether business is set up as a sole trader, partnership or company,there is no reason why you cannot avail of the scheme.
 
Bike to Work - refunds

Hi,

I have a query regarding a situation I find myself in.

I joined up with the bike to work scheme and purchased a bike. I have since returned the bike to the shop as there is a problem with it and they have agreed to give me a refund.

The company I worked for are now gone from Ireland and in trouble so the bike shop has agreed that it would be risky to give the € 1000 element back to the company I worked for, although that is the route they should probably take.

I know that if I purchase another bike and use as my 'bike to work' bike, then I am quits with the tax man. If I choose not to get another bike, then I owe the tax man the credits I got in year 1 of the scheme.

The only tax liability is mine - the shop has none, correct?

They should deal with it as a normal refund i.e. give it back to me or the company that paid in the first place ?. Tax credit treatment is with me and not with the shop

Thanks
 
hp1702 said:
Hi,

I have a query regarding a situation I find myself in.

I joined up with the bike to work scheme and purchased a bike. I have since returned the bike to the shop as there is a problem with it and they have agreed to give me a refund.

The company I worked for are now gone from Ireland and in trouble so the bike shop has agreed that it would be risky to give the € 1000 element back to the company I worked for, although that is the route they should probably take.

I know that if I purchase another bike and use as my 'bike to work' bike, then I am quits with the tax man. If I choose not to get another bike, then I owe the tax man the credits I got in year 1 of the scheme.

The only tax liability is mine - the shop has none, correct?

They should deal with it as a normal refund i.e. give it back to me or the company that paid in the first place ?. Tax credit treatment is with me and not with the shop

Thanks
Click to expand...

I would presume that the refund should issue to the company, after all it was they who paid the money, I would think it would be illegal to pay it to you.

I'm a civil servant and the way our payments for the scheme operated was that my salary sacrifice was calculated on a fortnightly basis, how were yours done?
 
Thanks but I am not trying to do anything illegal here as the company took the money back from me in full and like you, via salary sacrifice (monthly)

That company fired us and is in financial trouble so giving it back to them, might result in me never seeing it.
 
Have you (or the shop) tried contacting Revenue to ask them what the correct thing to do is? If you do then you're both covered.
 
Have been trying but have been getting the run around as it appears this may have not happened before or at least to the knowledge of the people on the other end of the line.

Hence why I am on the boards here - I will get back to you if I find out what the process is
 
It's not just a tax issue....it's an ownership one.
Have you paid for the bike in full? If not, how much more is to pay and can you pay this? If not, and you get paid by the shop, you get 'free money'!!!
Have to say, it's rare for a shop to take a bike back. What is the reason for return?
 
Again, I am not trying to get any illegal or free money

The bike was paid for in full so it is just a tax issue which I believe is my responsibility to sort out if I do not get another one.

The bike was not as per sample and not fit for purpose as advertised so I am not interested in a replacement
 
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