I did exactly the same in 2010, albeit when the tax benefits were a bit more weighted in your favour. With some of the added incentives my work threw in, plus some abuse of the reserve-in-store/online sale, I ended up with £1500 RRP worth of bike and components for about £600 in 12 interest free payments. Spent another few hundred on it myself over the next year (dropper, tyres etc…). 2010 was just before the explosion in prices and boardmans were aggressively priced for the component spec. Quite happy really.
Snapped both the chainstays the other day, though. Managed to persuade Halfords to sell me some more this week for £100. Fitted them today, quite straightforward once I got the big hammer out. Keeps me on the dirt whilst the Nicolai fund grows…