Gascoyne was born in 1968 in Huthwaite, Nottinghamshire, to Marian and Derrick Gascoyne.
Gascoyne trained at the Central School of Speech and Drama. One of his earliest roles was as Judd on Central TV's children's program Murphy's Mob. Gascoyne has acted in numerous television dramas, including the 1988 Central Television series for schools, Starting Out. He has also had roles in Between the Lines and as David Jennings in the TV series Murdoch Mysteries ( one appearance ) and Casualty. He appeared as Barry Kent in The Secret Diary of Adrian Mole and as Fusilier Tony Rossi in Soldier Soldier. In 2006, Gascoyne joined the cast of BBC drama New Street Law as Al Ware.
In 2008, Gascoyne lost his driving licence for 12 months and was fined £500 after he was stopped by traffic officers and was found to be over the legal limit. In May 2010, Gascoyne ran in the Great Manchester Run for the Alzheimer's Society, as his grandmother had suffered from the condition.
He is best known for his portrayal of Peter Barlow in Coronation Street. Gascoyne played the role from 2000 to 2003 and returned briefly in 2007. In October 2008, it was announced that he would be returning to the soap. Gascoyne took a four-month break from Coronation Street in July 2012 and left at the end of his contract on 14 November 2014. He returned briefly in 2015 following the death of his co-star Anne Kirkbride. Speaking about his return to Coronation Street, Gascoyne said "Coming back was like a healing process, we laughed a lot".
In July 2016 it was announced that Gascoyne will return to the role of Peter Barlow on permanent basis. He reappeared on 17 October.
