Tax Free Bikes

Hey Folks,

I came across this on the http://www.bromptonbicycle.co.uk website. Over the UK and Northern Ireland they have a Green Transport Plan i.e tax free scheme for bikes.
“

  • Government Green Transport Plans have opened the door to employees getting up to 50% off the retail price of new bikes and equipement. Payments are made monthly via salary deuctions which can save both the employer and employee tax. Two organisations, Booost and Cyclescheme, undertake the administration of the company scheme once the criteria have been agreed upon with the employer. See www.booost.uk.com or www.cyclescheme.co.uk for more details. Read more in an article in This is Money on www.thisismoney.co.uk/tax-advice”

    • We have a tax free scheme for buying yearly public transport tickets for CIE
    Dublin Bus
    http://www.dublinbus.ie/fares_and_tickets/taxsaver_commuter_tickets.asp

    Iarnród Éireann
    http://www.iarnrodeireann.ie/your_ticket/taxsaver_commuter_tickets.asp

    Bus Éireann
    http://www.buseireann.ie/site/your_journey/employer_pass_programme.asp

    and the Luas as well http://taxsavertickets.luas.ie/

    Why not for Bikes??
    Its pretty much the same method,
    Any ideas or thoughts on this? What ya think? Should we push for something similar here in Ireland?

    ATB

    Oisin

    Posted

    in

    by

    Tags:

    Comments

    2 responses to “Tax Free Bikes”

    1. alan Avatar
      alan

      A scheme like this would be great in Ireland.

      It would take a bit of work to get it off the ground alright, but I’d say there might be a few employers who would be receptive.

    2. oonidh Avatar
      oonidh

      Briam Lenihan Minister for Finance must have seen me post on galwaycycling.org.
      Ha ha.

      Details of the scheme are as follows:
      To encourage cycling, the provision of bicycles and associated safety equipment by employers to employees who agree to use the bicycles to cycle to work will be treated as a tax exempt benefit-in-kind.
      The exemption will only apply once in any five-year period in respect of any employee. There will be a limit on the value of such purchases of €1,000 for each employee. The exemption begins on January 1st, 2009.

      Also must note. A flat rate levy will be introduced in major urban areas of €200 whereby an employer provides car parking facilities for employees. The urban areas involved will be the centres of Dublin, Cork, Galway and Limerick. Only pity is that it is an employee “Benefit in Kind” rather than employer tax.
      Had it being the employer who had to pay – then they would be under pressure to remove a certain percentage of car parking spaces, start charging a fee for spaces or convert existing car parking spaces into public spaces or possibly even bike parking stands. Another lost opportunity in this area in my opionion is had the employer being encouraged to provide cycle facilities like covered bike stands; shower and changing facilities and recieved a tax benefit in doing so or offset against the cost for the car parking spaces. I believe this would incentivise the “cycling to work” scheme.

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.