What is a commuting loan?

So, what other employee benefits can we use? Commuting Loans. For those who travel to work by bus, rail or any other form of public transport, commuting loans are a fantastic way to save money. The cost of travelling by public transport can be very expensive, particularly when travelling by train.

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Additionally, are travel loans tax free?

As long as the total outstanding balances on these loans do not exceed the threshold at any time in a tax year, there will be no tax charge. … For example, many employers provide employees with low or interest-free loans to enable them to buy transport season tickets.

Subsequently, can I claim tax on public transport? Can I claim driving in my car or public transport? Transport costs are one of the most popular travel tax deductions. Generally, work related travel in your car or on public transport is claimable with the exception of travel from home to work (and vice versa).

Then, do you pay tax on train tickets?

The same goes for other forms of public transport, including bus fares, air travel and taxi fares. Train tickets are not VAT exempt. They are zero rated.

How do I contact the commuter club?

Please call us before the current ticket is due to ensure the account is cancelled in time. However, If your circumstances have changed and you do not wish to remain with CommuterClub, please contact us on 02034765002 Mon-Fri 9am-5pm so we process your request.

How does the railcard work?

Your 16-25 Railcard will save you 1/3 off a wide range of tickets . Your Railcard doesn’t just save you money on travel. It saves you money with our partners too – on days out, restaurants, hotels and more. Visit our Offers and Competitions area regularly to keep up to date on the great deals available.

How much is a monthly Travelcard?

The prices vary according to the number of zones you need to travel through. Central London is in zone 1. Travelcards are valid for 1 day, 7 days, 1 month or 1 year.

Monthly Travelcards 2021
Zones 1–2 £142.10
Zones 1–3 £167.10
Zones 1–4 £204.30
Zones 1–5 £243.10

Is a travel pass a benefit in kind?

Travel passes can include bus, train, Luas and ferry services. This is not a benefit-in-kind. … Your employee must pay Income Tax (IT), Pay Related Social Insurance (PRSI) and Universal Social Charge (USC) on this benefit.

What is a season ticket advance?

You can apply for a season ticket advance to assist with travel costs such as rail or bus fares, car parking, toll bridge or tunnel costs or with the purchase of a bicycle for travel between home and place of work.

What is a season ticket loan at work?

Travelling to work by public transport is costly and therefore many employers provide season ticket loans. This enables the employee to buy an annual travel ticket paid for by their employer but with the cost then deducted from their wages in equal, usually monthly, instalments.

What is a smartcard?

A smartcard is a credit card sized card that stores rail tickets on a microchip and is used to tap in and out of stations. They are available online from train operators websites and at stations. Smartcards are durable and reliable for regular use over many years.

What is interest free season ticket loans?

The bus or train season ticket loan scheme allows employees to have an interest-free loan for the cost of a public transport annual season ticket which will be repaid within the lifetime of the season ticket (by 10 equal monthly instalments).

What is the benefit of a season ticket loan?

Purchasing an annual season ticket is generally cheaper than purchasing monthly or weekly tickets, and the loan makes the cost of an annual ticket more manageable by allowing repayment over 12 monthly instalments.

What is transport allowance?

Transport allowance is an allowance given to meet commuting expenses between place of residence and office or to meet personal expenditure of employee of transport business. Conveyance allowance is an allowance granted to meet the expenditure on conveyance in performance of office duty.

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