Income Tax (Earnings and Pensions) Act 2003(c. 1) - Explanatory Notes

Explanatory Notes

Income Tax (Earnings and Pensions) Act 2003

2003 CHAPTER 1

6th March 2003

Commentary on Sections

Example 3

£150(Pe) – £50(E) = £100

Chapter 6: Taxable benefits: cars, vans and related benefits

Overview

Section 162: Shared van: meaning of “participating employee”

626. This section defines the term “participating employee”, which is used in section 161. The section derives from paragraph 5(2) and (3) of Schedule 6A to ICTA.

627. Subsection (1) applies when only one van is involved.

628. Subsection (2) applies when more than one van is involved.

629. Subsection (3)(a) and (b) extends the section to private use of a van by a member of the employee’s family or household.