A lorry driver has been arrested on suspicion of causing death by dangerous driving after a crash that killed two cyclists.

Both of the male cyclists died at the scene of the crash with the white Renault lorry on the A30 in Newquay, Cornwall, at around 8.30am yesterday.

The bikes and the lorry were on the eastbound carriageway when the accident happened.

The men have been named as 48-year-old Andrew McMenigall from Edinburgh, and Toby Wallace, originally from Philedelphia in the US.

The 31-year-old driver of the lorry was released on bail by Devon and Cornwall Police.

The pair are believed to have been starting the popular 874-mile route from Land's End to John O'Groats, with their bikes loaded for the long journey. Officers spent eight hours investigating the scene on the A30.

Both worked for Aberdeen Asset Management (AAM) and were attempting to raise money for the Kirsten Scott Memorial Trust, set up in the name of a colleague who died from cancer in 2011.

Mr McMenigall was married with two daughters and was a keen triathlete. He had served in the Army before joining the financial company.

Mr Wallace was from Philadelphia, where he worked for AAM. He was part of an eight-man team who rowed across the Atlantic last year to raise money for the trust.

AAM chief executive Martin Gilbert paid tribute to his colleagues.

"I knew both Andrew and Toby well. They were dedicated and popular members of our senior team. The fact that they died in such tragic circumstances while trying to help others less fortunate tells you much about their selflessness and humanity.

"This is a terrible time for the company. More importantly our thoughts are with the families of Andrew and Toby. We will be doing everything we can to support them."

The trust provides grants to people under the age of 26 to help them fulfil ambitions and enhance their personal development.

A statement on the charity's website read: "Toby and Andrew had both been amazing supporters of the trust and their fundraising efforts have meant so much in helping to establish a trust in Kirsten's name to support young people under 26.

"We are all devastated to learn of this dreadful accident. Our thoughts and prayers are with Toby and Andrew's families and friends at this sad time."

The trust said the pair planned to cycle 960 miles in a week, longer than the typical route, in order to take in more "interesting scenery".