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Super cycles
Key points
- Cost of cycling equipment is likely to qualify for capital allowances.
- Super deduction will not be available for items leased to employees.
- Bikes kept in a pool available for all employees may qualify for the super deduction as an alternative to other capital allowances
- Ensure any hire agreement clarifies who owns the bicycle before during and after the hire period.
The cycle to work (CTW) scheme is a UK government initiative introduced about 20 years ago to help employees gain access to new cycling equipment for work and personal use. It is one among many other government initiatives aimed at making cycling and walking the natural choices for shorter journeys or as part of a longer journey by 2040 as set out in the Cycling and Walking Investment Strategy published in 2017 (tinyurl.com/govcwis17).
There are several models and variations for running the scheme ...
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