Do you pay Benefit in Kind on a lease bicycle?
No, you do not pay Benefit in Kind for using a lease bicycle, provided you use it regularly for commuting. But what exactly does 'regularly' mean?
What is 'regular' use?
Most companies use a target of 20%. This means that the employee uses the lease bicycle for commuting kilometres at least 20% of the time. Your employer sets this percentage in your Bicycle Policy.
What if you live further away?
Partial journeys are also considered commuting. This means that if an employee cycles only part of the route to work, this can also count as regular use. Provided you cycle enough, obviously.
Would you like to know more about Benefit in Kind and bicycle leasing?
Then be sure to read this blog Why does leasing a bicycle through your employer offer so many tax benefits?
Do you still have some questions?
If so, feel free to contact our helpdesk. We will be glad to help you further.