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

It's also unclear what happens if you used the £1,000 allowance to buy a bike significantly over that sum, presumably you'd only pay 25% on the first £1,000 of the bike (that which your company owns)... otherwise you'd be in for a really nasty surprise when your finance director tells you he wants 25% of a £2k bike that you part-bought on the scheme.

I didn't think you could buy anything over a grand on the scheme. As I understood it, the scheme was only for bikes under £1000. That was why all the standard-build Chris Boardman bikes were priced at just under a grand, to catch the top end of the cycle to work people.