On yer bike


On yer bike

The Office of Tax Simplification, a Quango created by the Coalition Government last year to look into simplifying the tax regimes that business and citizens endure, has now presented its findings to the Chancellor. A formal response is expected in the March 23 budget.

In the meantime, we can look at one interesting element of the findings. The OTS has recommended that the Cycle to Work scheme should stay.

For the uninitiated, the Cycle to Work scheme has been around since its introduction in 1999. It's aim is to remove cars and pollution from the road and encourage healthier lifestyles in exchange for an annual tax exemption in the provision of the bicycle and associated equipment.

Currently there are 400,000 plus users of the scheme employed by 15000 businesses and 650 bike retailers have benefited. There are a lot of fingers crossed the Chancellor agrees with the OTS.

This was first published in March 2011

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