HMRC announces new guidance on the operation of cycle to work schemes
HMRC have recently published new guidelines in response to questions from employers surrounding the handling of ‘Fair Market Value’ (FMV) payments for cycles at the end of the hire period.
These guidelines include a valuation table which employers may use to determine a cycle’s value, avoiding the administrative burden of valuing cycles individually at the end of the hire term.
These guidelines are available on the HMRC website
This story was last updated on 17/09/2010
