Cyclescheme introduces market value solution for end of loan period

Cyclescheme has launched a market value solution for HM Revenue and Customs’ (HMRC) latest advice on valuing cycles at the end of a loan period.

The solution, which has been produced after discussions directly with HMRC and independent tax experts, alleviates the administrative burden for collection of market values on cycles at the end of the loan period from employers. It also means employees can avoid P11D charges by opting for an extended hire period with Cyclescheme.

The solution is based on full compliance with current HMRC guidance, minimising payroll and HR administration for employers, and maintaining the attractiveness of the scheme for employees.

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