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GCI cycle to work scheme

So I have a few questions about this scheme.

It appears to work in the basis that your employer pays 100% for the bike and you pay back in chunks off your salary however the final amount you pay is less beceause it's tax/vat free, usually saving around 40%. My question is does the employer have to pay for the missing 40% I saved on? I don't see my employer shelling out over 1k for a 4k carbon full sus..

Any advice would be helpful.


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