Employers who purchase bicycles and safety equipment for loan to employees can benefit from treating the purchase as capital expenditure eligible for corporation tax relief. VAT can also be claimed back on the purchase unless you are registered on the VAT flat rate scheme.
The loan of bicycles and safety equipment under the cycle to work scheme removes any tax charge to the employee that would usually arise on a taxable benefit.
Employers who purchase bicycles and safety equipment for loan to employees can benefit from treating the purchase as capital expenditure eligible for corporation tax relief. VAT can also be claimed back on the purchase unless you are registered on the VAT flat rate scheme.
The loan of bicycles and safety equipment under the cycle to work scheme removes any tax charge to the employee that would usually arise on a taxable benefit.
HMRC doesn't provide an official mileage claim calculator, but our free UK mileage calculator helps you accurately work out your business mileage allowance using current HMRC approved rates. Simply enter your business miles and vehicle type to calculate your tax-free mileage claims for cars, motorcycles, and bicycles instantly.
Our limited company expenses guide talks through all the different expense categories you can claim for along with key examples and how this can impact your corporation tax.
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