Urgent warning for anyone who has or is about to sign up to Cycle to Work

So in summary, regardless of when you signed the contract, from this week onwards you will receive a 25% charge at the end of your rental agreement to take ownership of the bike, plus the admin fee?

unless your employer doesn't charge you for the transfer of purchase (intentionally or not) whereby you'd be liable to pay tax on that sum as a benefit in kind - much like you would if you had a company car, health insurance or what not.