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Can't the [VAT registered] employers claim back VAT anyway, even though they can't pass the saving on the the employee? The employer effectively makes money out of the scheme.
Not sure about VAT but they definitely make money out of reduced employer NI contributions.
VAT info here: http://www.cyclescheme.co.uk/employers/employer-updates/cyclescheme-hmrc-vat-update-faqs
£500 salary sacrifice on a £30k salary saves the employer £69 in employer NI over a year.
Greenbank
Can't the [VAT registered] employers claim back VAT anyway, even though they can't pass the saving on the the employee? The employer effectively makes money out of the scheme.