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Cycling: VAT

Treasury written question – answered at on 22 April 2021.

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Photo of Thangam Debbonaire Thangam Debbonaire Shadow Secretary of State for Housing

To ask the Chancellor of the exchequer, if he will review the level of VAT levied on the Cycle to Work scheme following the UK's withdrawal from the EU.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

There are no current plans to change the VAT rate on the Cycle to Work Scheme. VAT registered businesses are normally able to reclaim any VAT incurred on the purchase of bicycles and safety equipment provided to their employees under the scheme.

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  • (Citation: HC Deb, 22 April 2021, cW)

Chancellor of the Exchequer

The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.

The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.

The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.