Thanks Gary, I may have a look at doing this.
For the first 4 years this is a hire process so your employer will own £1000 worth of your bike and you’ll own the rest. What should happen after that is that the £1000 should move, for a nominal fee, to you scheme you used for the remaining 3 years and then you own the “entire” bike.
I just didn’t realise you can offset a chunk of the bike to Cycle Scheme as opposed to all of it…