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Cycle-to-work scheme You can save as much as 42 per cent, for higher-rate taxpayers, and 32 per cent as a basic-rate taxpayer, on a bike to use for commuting to work via the cycle-to-work scheme. Your employer pays the cost of the bike and you pay your company back in instalments as a 'salary sacrifice', i.e. money that comes out of your gross pay automatically. That means you are not paying tax on it, unlike if you were to buy a bike out of your net pay. You can spend up to PS1,000 on a bike and equipment. Check out bike2workscheme.co.uk for more.