(1)[F1No liability to income tax arises] in respect of the provision for an employee of a cycle or cyclist’s safety equipment if conditions A to C are met.
(2)Condition A is that there is no transfer of the property in the cycle or equipment in question.
(3)Condition B is that the employee uses the cycle or equipment in question mainly for qualifying journeys.
(4)Condition C is that cycles are available generally to employees of the employer concerned or, as the case may be, cyclist’s safety equipment is so available to them.
(5)In this section “cycle” has the meaning given by section 192(1) of the Road Traffic Act 1988 (c. 52), and “cyclist” has a corresponding meaning.
Textual Amendments
F1Words in s. 244(1) substituted (with effect in accordance with s. 16(7) of the amending Act) by Finance Act 2005 (c. 7), s. 16(3)