When you say self administer, you mean the business will run their own scheme and “hire” the bike to the employee? In this case, you would need to be FCA approved to offer above £1k as I understand it. I do have Cycle2Work employers documentation relating to the £1k limit removal if that clarifies it?
If you just mean using one of the existing schemes, then IME they are easy to set up and run. We’re just signing off the limit increase now, think we’re implementing a “no more than a month’s gross salary” limit to reduce business risk (and stop me from buying a £10k bike!) Easy to do that as the voucher approval on Cycle2Work goes via HR for final sign off.