"Tax Free Cycling"

The government has introduced a scheme to encourage people to cycle to work on the basis that it promotes health both to the person and to the environment. For once I agree. Seems like a great idea. The idea is you technically 'lease' a bike from a finance company for a year saving VAT and tax. At the end of the year, you buy the bicycle for a 'token' 5% of cost (Fair Market Value). It's taken directly from your wage before deductions, so it's a scheme the employer has to sign up to also. The Great thing is you can buy any bicycle you want and will work out at just over half price. It gives you the opportunity to buy one that you might have not before thinking the cost was excessive. Well bottom line is - I've signed up! I'm going to get a Brompton Folding Bicycle. These are the 'Rolls Royce' of folding bikes, and a real 'statement' to being both green and a real trendy person!