It used to be the case that, It used to be the case that, if you used the scheme, you had to end up with a complete bike (e.g. you couldn’t use it to buy a frame only). My understanding is that HMRC changed the underlying rules in the last couple of years so that people who already had a bike could use the scheme to buy equipment only. However, as I understand it the ‘equipment only’ option can only be used to buy cyclists’ safety equipment.
“In addition to selecting a bike, the cycle2work scheme also allows employees to select cycling safety equipment… Items such as frames and forks are cycle components, not safety equipment: safety equipment is something you add to the cycle or the cyclist to make cycling safer. If an employee were to access cycle components through the scheme, that Employer’s cycle2work scheme would be non-compliant.”
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