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Finance Act 1995

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Benefits in kindE+W+S+N.I.

43 Cars available for private use.E+W+S+N.I.

(1)After section 157 of the Taxes Act 1988 there shall be inserted—

157A Cars available for private use: cash alternative, etc.

Where, in any year in the case of a person employed in employment to which this Chapter applies—

(a)a car is made available as mentioned in section 157, and

(b)an alternative to the benefit of the car is offered,

the mere fact that the alternative is offered shall not make the benefit chargeable to tax under section 19(1).

(2)In section 158 of the Taxes Act 1988 (car fuel) in subsection (1) for the words “which is made available as mentioned in section 157,” there shall be substituted “ the benefit of which is chargeable to tax under section 157 as his income, ”.

(3)In section 167 of the Taxes Act 1988 (employments to which Chapter II of Part V of that Act applies) at the beginning of subsection (2) (calculation of emoluments) there shall be inserted “Subject to subsection (2B) below” and after that subsection there shall be inserted—

(2B)Where, in any relevant year—

(a)a car is made available as mentioned in section 157, and

(b)an alternative to the benefit of the car is offered,

subsection (2)(a) above shall have effect as if, in connection with the benefit of the car, the amount produced under subsection (2C) below together with any amounts falling within (2D) below were the amounts to be included in the emoluments.

(2C)The amount produced under this subsection is the higher of—

(a)the amount equal to the aggregate of—

(i)whatever is the cash equivalent (ascertained in accordance with Schedule 6) of the benefit of the car; and

(ii)whatever is the cash equivalent (ascertained in accordance with section 158) of the benefit of any fuel provided, by reason of the employee’s employment, for the car; and

(b)the amount which would be chargeable to tax under section 19(1), if the benefit of the car were chargeable under that section by reference to the alternative offered to that benefit.

(2D)The amounts which fall within this subsection are those which would come into charge under section 141, 142 or 153 if the section in question applied in connection with the car.

(4)This section shall have effect for the year 1995-96 and subsequent years of assessment.

44 Cars: accessories for the disabled.E+W+S+N.I.

(1)At the end of section 168A(11) of the Taxes Act 1988 (mobile telephones not accessories for purpose of determining price of car) there shall be inserted “ or equipment which falls within section 168AA ”.

(2)After section 168A of the Taxes Act 1988 there shall be inserted—

168AA Equipment to enable disabled person to use car.

(1)Equipment falls within this section if it is designed solely for use by a chronically sick or disabled person.

(2)Equipment also falls within this section if—

(a)at the time when the car is first made available to the employee, the employee holds a disabled person’s badge, and

(b)the equipment is made available for use with the car because the equipment enables him to use the car in spite of the disability entitling him to hold the badge.

(3)In subsection (2) above “disabled person’s badge” means a badge—

(a)which is issued to a disabled person under section 21 of the Chronically Sick and Disabled Persons Act 1970 or section 14 of the M1M2Chronically Sick and Disabled Persons (Northern Ireland) Act 1978 (or which has effect as if so issued), and

(b)which is not required to be returned to the issuing authority under or by virtue of the section in question.

(4)Subsection (12) of section 168A applies for the purposes of this section as it applies for the purposes of that.

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Marginal Citations

(3)This section shall have effect for the year 1995-96 and subsequent years of assessment.

45 Beneficial loan arrangements: replacement loans.E+W+S+N.I.

(1)In Chapter II of Part V of the Taxes Act 1988 (benefits in kind, &c.), section 160 (beneficial loan arrangements) is amended as follows.

(2)In subsection (5) (interpretation), paragraph (b) (references to loan to include any replacement loan) shall cease to have effect.

(3)After subsection (3) (deemed continuance of employment to which that Chapter applies) insert—

(3A)Where subsection (3) above applies, a loan which—

(a)is applied directly or indirectly to the replacement of any such loan as is mentioned in paragraph (a) of that subsection, and

(b)would, if the employment referred to in that subsection had not terminated or, as the case may be, ceased to be employment to which this Chapter applies, have been a loan the benefit of which was obtained by reason of that employment,

shall, unless it is a loan the benefit of which was obtained by reason of other employment, be treated as a loan the benefit of which was obtained by reason of that employment..

(4)In paragraph 4 of Schedule 7 to the Taxes Act 1988 (loans obtained by reason of employment: normal method of calculation of benefit (averaging)), make the present provision sub-paragraph (1) and after it insert—

(2)Where an employment-related loan is replaced, directly or indirectly—

(a)by a further employment-related loan, or

(b)by a non-employment-related loan which in turn is, in the same year of assessment or within 40 days thereafter, replaced, directly or indirectly, by a further employment-related loan,

sub-paragraph (1) above applies as if the replacement loan or, as the case may be, each of the replacement loans were the same loan as the first-mentioned employment-related loan.

(3)For the purposes of sub-paragraph (2) above “employment-related loan” means a loan the benefit of which is obtained by reason of a person’s employment (and “non-employment-related loan” shall be construed accordingly).

(4)The references in sub-paragraph (2) above to a further employment-related loan are to an employment-related loan the benefit of which is obtained by reason of—

(a)the same or other employment with the person who is the employer in relation to the first-mentioned employment-related loan, or

(b)employment with a person who is connected (within the meaning of section 839) with that employer..

(5)The above amendments have effect for the year 1995-96 and subsequent years of assessment and apply to loans whether made before or after the passing of this Act.

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