Cycle to work scheme - what's easiest for employers?

Our company doesn't have a cycle to work scheme, but I can probably get one pushed through* provided I can do the admin and it doesn't impact the balance sheet/company financials too badly.

Does anyone have a recommendation for the easiest way to offer the scheme?

If anyone has done "cost benefit analysis" type of thing for their employer and would be willing to share it that would be really useful.

*The boss wants to buy a new bike.

To take advantage of the tax and Class 1A NICs exemption, an employer can simply buy a cycle and cyclists' safety equipment, reclaim the VAT (if applicable), make use of the capital allowances and loan it to an employee for qualifying journeys to work. This arrangement means that the employee's normal salary arrangements are not affected. It may be, however, that the employer wants to recover the cost of providing the cycle and safety equipment loaned to the employee. Usually this would be done through a salary sacrifice arrangement. Some bike shops can provide these or they can be purchased online.

If your company is tiny I'd do the former. In that sense, the admin overhead is no different to buying a printer or other plant. As I understand it anyway. I'm not an accountant. Means you can buy pretty much anything from anywhere.

It might me that you have to offer everyone in the company this, or you might be strapped for cash, in which case...the Salary Sacrifice agreement makes sense, but is fiddly (er).

There are probably about 10-20 employees who would take this up, and I don't think we really want to own £10-20k worth of bikes. So we probably need an outsourced provided who can finance everything.