Cycle to work scheme

Nope

You sign up for a year. Once the year is over you then pay a small fee (usually 5-10%) to keep the bike for a further 3 years(you pay nothing during this time). After that time the bike is yours.

Once the initial year is over and you've paid all the monthly instalments your then free to buy another bike, regardless of whether you've got a bike in the 3 year lease period still.

The chances of HMRC taking a detailed interest are slim, but until you have paid to acquire the bike, and it is your personal property, buying a second bike is risky.

The scheme is designed to put at your disposal a bike, owned by your employer, and used for commuting. The further you stray from this basic tenant, the greater the risk of the scheme, and the tax breaks, falling apart