Right I've just had a letter from my employer that my hire period ends next month and they are offering the bike to me for 25%, so if I decide not to buy it, what happens to the bike? as the company own it, if I take it back to Halfords what do they do with it?
Halfords won't do anything with it, the bike is your companies property. Speak to your HR and ask them
Ask them to give you the bike so that you are only liable for the Tax an NI on the "benefit in kind".
mine I can either pay the 25% at the end this Dec or pay a consolidation payment and extend the hire period for another 3 years with no more payments and then pay 7% at the end of that. If the payment of the consolidation fee is the same as the 7% I pay nothing. so think I'm gonna do this.