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Income Tax (Earnings and Pensions) Act 2003

Section 129: Accessory: published price of the accessory manufacturer etc.

476.This section states how to arrive at the price of an accessory when it is derived from the published price of the manufacturer, importer or distributor of the accessory. The section derives from parts of section 168B(4), (6) and (7) and section 168C(4) of ICTA.

477.Subsection (1) defines the “published price of the manufacturer, importer or distributor of the accessory”. As in section 123 of this Act (see paragraph 453), the phrase “(as the case may be)” from the source legislation is retained.

478.Subsection (2) defines “inclusive price”. Car tax is excluded from the “relevant taxes” to be taken into account in arriving at the price of the accessory in subsection (2)(b). That reproduces the effect of section 168B(7)(b), which differs from section 168A(9) in that respect.

479.Subsection (2)(c) contrasts with section 128(2)(c) in identifying the person by whom the fitting charge is made. That reflects section 168B(6).

480.Subsection (3) states an interpretation rule for this section about timing. The reference to “time” here (and in subsection (1)(e) to which it relates) contrasts with the reference to “day” in section 128(1)(e). That reflects the distinction between section 168A(9)(b), which refers to “day” and section 168B(4), which refers to “time”. A brand new car is generally on sale prior to its first registration. The act of registration often results in an immediate loss in value. This is equally true of an optional accessory provided with the car by the car manufacturer. The legislation adopts the price of such an accessory in relation to the day immediately before first registration as it does for the car itself (see section 123(1)(e) of this Act). In the case of an accessory that is made by someone other than the car manufacturer that may not be appropriate. That is because the accessory might be attached to the car only on the first day the accessory goes on sale. So this section refers to a particular time rather than a particular day.

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