you need to be careful what you say, because HMRC don’t really like things like this (where they offer a tax saving scheme and people defraud them in return).
If it was me, I would have lost the bicycle some time ago but didn’t report it stolen or lost (there was no point because I didn’t bother getting it insured).
To be perfectly honest, and this isn’t directed at you in particular, this sort of thing really pisses me off.
CTW no longer offers the same value as it did before, and I think that’s partly to do with a lot of people REALLY taking the piss.
Sure, some people added a bit onto the voucher amount for a better bike, but that mainly raises question of ownership.
Buying wheels at the expense of HMRC is pushing it a bit.