Cycle to work scheme-puts 10% on the price

[cwah]

quote from the cyclesheme.co.uk faqs:-

The most attractive option for employees will be to pay a small, refundable deposit (3% or 7% of the equipment value*) and continue to use the bicycle for an extended period of up to 36 months.

At the end of this period, if the employee does not wish to keep the bicycle, then Cyclescheme will refund the deposit in full. Alternatively, Cyclescheme may at its discretion, offer ownership of the bicycle to the employee at this point, and no further action or payment will be required if they wish to keep the bicycle.

This quote says exactly what the HMRC guidelines says:
The bike doesn't belong to you at the end of the year, you have to extend it for 36 months to be able to purchase it for 7% of initial value. Which is equivalent to 4 years lease.
If you look at HMRC page, the 7% you pay is equivalent to the 4 years lease option...


So, officially this bike is your... at the end of the 4 years lease.

I don't know how your HR managed the cycle to work scheme, but if you leave your company before the end of the lease, they have legally the right to claim you back the full bike price.