Gascoyne was born in Rackheath, Norfolk, England. He lived in Sprowston and went to Sprowston Junior School and before moving to Old Catton. He went to Wymondham College from 1974 to 1981. Although he gained admission to study for a PhD in fluid dynamics at Cambridge University (Churchill College) from 1982 to 1988, he gaining a series of degrees but started working before graduating with a PhD. He was, however, active in his college Boat Club, as a successful coxswain of Churchill's leading women's crew. After leaving Cambridge in 1988 he briefly worked for Westland System Assessment Limited, part of Westland Helicopters, but maintained a keen desire to work in motor sport.
