if your employer is buy the bike as an asset for your use, then this fits with the Governments cycle to work tax scheme..
if they buy the bike using the provisions of the scheme the tax saving will mean you can get a better bike + helment, lights etc.
the scheme is not complex and your company doe snto have to sign up to any of the formal scheme around (like evans /
halfords etc) and can be arrange with a lbs - they send an invoice to your company they pay it - bike is their asset - then they need to clain the VAT as usual then adjust your salary to get the other savings etc