It used to be £1,000, but the cap was removed in 2019 due to growing complaints that it limited the purchase of expensive e-bikes and cargo bikes. However, as the benefit is linked to salary, higher tax payers benefit more than ordinary workers, which has led to suspicion that higher rate taxpayers are buying very expensive bikes for weekend fun while being able to legitimately claim a very big chunk of the cost tax-free through the cycle to work scheme.
Located between the Atlantic Ocean and the Caribbean Sea, this dual-island nation of St Kitts and Nevis offers a peaceful lifestyle and is known for its beautiful beaches, lush green rainforests, exciting hiking trails, and awe-inspiring mountains,
The One Big Beautiful Bill Act (OBBBA) introduces a senior deduction of $6,000 for individuals and $12,000 for married couples, ensuring 88% of seniors avoid federal tax on Social Security benefits.