Cycle to work scheme

I've emailed Cyclescheme, I'll see what they say

Edit - Quick Response !

I would like to advise you that the HMRC have informed Cyclescheme that any hire agreements taken out after the 27th July 2011 will be affected by the VAT being applied to the salary sacrifice payments when it comes to the payments in January 2012
Therefore it would not matter if you put in a request before January 2012 as this would still be affected when the payments are deducted in January unfortunately

Does anyone know how the VAT payments would be dealt with, and how much they would be for a £1000 cycle scheme voucher ? You're already paying VAT on the value of the bike, you're also going to be charged VAT on the 'benefit' of the cyclescheme ?

Edit again ! - Cyclescheme detail it all here
http://www.cyclescheme.co.uk/employers/employer-updates/cyclescheme-hmrc-vat-update-faqs#faq1

Basically you'll pay an extra £8 a month over what you would of payed before on a £1000 voucher.