Tax-free bike scheme
Date Published: 17 May 2009
Cycle to Work is a government initiative which allows businesses of all sizes to offer a tax-free bike buying scheme to their employees.
Employers can loan bicycles to their staff as a tax-free benefit providing that the bicycles are used some of the time to get to and from work or for work related purposes. Employees can then buy the bike at the end of the loan period for a nominal sum.
Any employer can set up their own Cycle to Work scheme, which operates like a salary sacrifice scheme. Further information is available from the Department for Transport.
