Chancellor of the Exchequer Phillip Hammond's Autumn Statement has confirmed that the Cycle To Work scheme will not be axed among other moves to cut back on employee tax breaks.
The Cycle To Work scheme was introduced by the British government in 1999 as part of the Finance Act to encourage employees to commute to work by bike, promoting health, fitness and reducing pollution. Under the popular scheme, companies can loan employees a bike as a tax-free benefit.
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