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@Arvy.
My company operates up to £1k. One of our offices only offer up to £500.
In that office, (sales floor), there have been occasions where people get offered better jobs and just don't come back. As the employer, we have to try and get that cash back, and that is never easy.
We also have a consumer credit licence but anyone buying a bike for more than £1k (including me) would, in my opinion, taking the mickey. I want to see a good 20% of our office cycling to work, that way I can argue for better parking, at the expense of the one guy who gets an amazing bike. Purely utilitarian.