Search Legislation

Income Tax (Earnings and Pensions) Act 2003

Section 121: Method of calculating the cash equivalent of the benefit of a car

446.This section states how to calculate the cash equivalent of the car benefit. The section derives from sections 157(2) and 168G(1) and paragraph 1 of Schedule 6 to ICTA.

447.Subsection (1) sets out the steps involved in the calculation by using a method statement.

448.Subsection (2) gives signposts to two special cases when the calculation is modified.

449.Subsection (3) gives a signpost to the reduction that may be made when employees share a car.

Back to top


Print Options


Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.


More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources