There are over 40 changes to tax and benefits taking effect today (Wednesday April 6th) as the UK ushers in the new tax year.

But one thing that is set to stay, cyclists will be glad to hear, is that the popular Cycle to Work scheme.

According to riding website road.cc, David Gauke of the Treasury confirmed this in an answer to an MP's question about the scheme.

"The Cycle to Work scheme provides an exemption from income tax on the benefit in kind created when an employer hires cycles or cycling safety equipment to an employee," Mr Gauke was quoted by the website as saying.

He added: "The government have no plans to change this exemption.”

The scheme is an annual tax exemption that allows employers to loan cycles and safety equipment to employees as a tax-free benefit.

Employees' hire payments are deducted from their gross monthly salaries and at the end of the hire period they may be able to buy the bike from their employer.