Cycle to Work scheme and Gross Salary

If I sign up to purchase a new bike through the Cycle to Work scheme (done via salary sacrifice with my employer), as a higher rate tax payer I understand that I can save up to 40% on the price of the bike. My question is, how does this affect my annual gross income for the purposes of my self assessment? If I earn £105k a year and get a bike at £5k will that reduce my gross salary to £100k and therefore not lose Tax Free Childcare or start to lose my personal allowance? If this is the case and it is done part way through the year, I assume that it will be pro rata? Many thanks.

Hi,

You can calculate your adjusted net income:

Personal Allowances: adjusted net income

Thank you.