Income Tax Pay £200 is a bummer of a square, especially as you'd been counting on the £200 for passing Go. For our purposes, this square will represent the Cycle to Work Scheme, precisely because it enables you to avoid this sort of thing.
The scheme works through some sort of accounting sleight-of-hand where your employer (if it's in the scheme) buys the bike on your behalf, and you buy it over the course of a year through monthly contributions deducted from your salary. If you're a basic-rate taxpayer and buy a bike costing £500 through the scheme, you'd get your bike for just £300, thus effectively avoiding £200 tax.
Other ways to avoid tax might include setting yourself up as a bike-based religion with charitable status, but that could be tricky.