But even the humble bicycle may not be safe from the Inland Revenue, as an asset provided to an employee by an employer can be liable for tax. Peter Minchinton, automotive group manager at Ernst and Young, said: 'The basic charge is 20% of the cost to the employer, with a percentage deduction according to the amount of business use. The chances are the Inland Revenue would just include the charge in the company audit. The benefit-in-kind charge will fall on the employer who will then decide whether to absorb it or pass it on to the staff.'
A spokeswoman for the Inland Revenue said: 'Any benefit-in-kind has to be put on the P11D form, no matter how small. Even if it is a Christmas turkey for £5 it must be put down.'