Part III Income Tax, Corporation Tax and Capital Gains Tax
Chapter I General
Benefits in kind
45 Car benefits.
1
In Schedule 6 to the Taxes Act 1988 (taxation of directors and others in respect of cars) for Part I (tables of flat rate cash equivalents) there shall be substituted—
Part I
Tables of Flat Rate Cash Equivalents
Table A Cars with an original market value up to £19,250 and having a cylinder capacity
Cylinder capacity of car in cubic centimetres
Age of car at end of relevant year of assessment
Under 4 years
4 years or more
1400 or less
£1,050
£700
More than 1400 but not more than 2000
£1,400
£940
More than 2000
£2,200
£1,450
Table B Cars with an original market value up to £19,250 and not having a cylinder capacity
Original market value of car
Age of car at end of relevant year of assessment
Under 4 years
4 years or more
Less than £6,000
£1,050
£700
£6,000 or more but less than £8,500
£1,400
£940
£8,500 or more but not more than £19,250
£2,200
£1,450
Table C Cars with an original market value of more than £19,250
Original market value of car
Age of car at end of relevant year of assessment
Under 4 years
4 years or more
More than £19,250 but not more than £29,000
£2,900
£1,940
More than £29,000
£4,600
£3,060
2
This section shall have effect for the year 1988-89 and subsequent years of assessment.
F146 Car parking facilities.
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47 Entertainment: non-cash vouchers.
F21
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2
In subsection (1) of section 36 of the M1Finance (No. 2) Act 1975 (vouchers other than cash vouchers), for the words “Subject to subsection (2) below” there shall be substituted the words “
Subject to the provisions of this section
”
.
3
The provision set out in subsection (1) above shall be inserted after subsection (3A) of that section as subsection (3B) with the substitution—
a
for the reference to section 839 of the Taxes Act 1988 of a reference to section 533 of the Taxes Act 1970; and
b
for any reference to a non-cash voucher of a reference to a voucher.
4
The amendment made by subsection (1) above shall have effect for the year 1988-89 and subsequent years of assessment; and the amendments made by subsections (2) and (3) above shall have effect for the year 1987-88.
48 Entertainment: credit-tokens.
F31
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2
The provision set out in subsection (1) above shall be inserted after subsection (3) of section 36A of the M2Finance (No. 2) Act 1975 (credit-tokens) as subsection (3A) with the substitution for the reference to section 839 of the Taxes Act 1988 of a reference to section 533 of the Taxes Act 1970.
3
The amendment made by subsection (1) above shall have effect for the year 1988-89 and subsequent years of assessment; and the amendment made by subsection (2) above shall have effect for the year 1987-88.
49 Entertainment of directors and higher-paid employees.
F41
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2
The provision set out in subsection (1) above shall be added at the end of section 62 of the M3Finance Act 1976 as subsection (9) with the substitution—
a
for the reference to section 154 of the Taxes Act 1988 of a reference to section 61 of the 1976 Act; and
b
for the reference to section 839 of the Taxes Act 1988 of a reference to section 533 of the Taxes Act 1970.
3
The amendment made by subsection (1) above shall have effect for the year 1988-89 and subsequent years of assessment; and the amendment made by subsection (2) above shall have effect for the year 1987-88.