HM Revenue & Customs estimated there were about 209,000 claimants under the scheme in 2023-24, the most recent year for which ...

Chancellor set to cap Cycle to Work scheme, possibly hitting mountain bikers—see what it could mean for your next bike and ...

The scheme allows UK residents to save tax on bike purchases by ‘loaning’ them from their employers. Cyclists can save up to ...

The Treasury probably sees the tax it misses out on bikes as a loss that needs to be stopped, but this is the classic ...

Summer is just around the corner, and perhaps you’re dreaming of balmy mornings spent on a brand-new bike, speeding down quiet country roads under big blue skies on one of the best road bikes. Or ...

For 25 years this simple, proven policy has helped over two million people afford a bike for their commute - from nurses and ...

One government figure justified the planned move by saying the salary sacrifice scheme should be about “helping ordinary commuters switch to greener travel”, not “giving tax breaks to high earners ...

Last Thursday, the Financial Times broke the story of the Government’s potential cap on Cycle to Work purchases, quoting a Government source as stating that “taxpayers shouldn’t be footing the bill ...

Rachel Reeves is preparing to limit the tax benefits available through salary sacrifice schemes for purchasing high-value bicycles, the Financial Times reported on 13 November.

Chancellor Rachel Reeves’ forthcoming Budget is expected to feature significant tax changes around salary sacrifice.

Forbes contributors publish independent expert analyses and insights. Carlton Reid is a U.K.-based journalist covering sustainability. Making sure that bikes are easily available is crucial to helping ...

The FT quotes an estimate by HM Revenue and Customs that Cycle to Work cost £130m in lost Treasury revenue in 2024-25, due to the income tax not collected on purchases made via salary sacrifice, an ...