Part 3Employment income: earnings and benefits etc. treated as earnings
Chapter 6Taxable benefits: cars, vans and related benefits
Cars: the price of a car
123The list price of a car
1
In this Chapter a car’s “list price” means the price published by the car’s manufacturer, importer or distributor (as the case may be) as the inclusive price appropriate for a car of that kind if sold—
a
in the United Kingdom,
b
singly,
c
in a retail sale,
d
in the open market, and
e
on the day immediately before the date of the car’s first registration.
2
The “inclusive price” means the price inclusive of—
a
any charge for delivery by the manufacturer, importer or distributor to the seller’s place of business, and
b
any relevant taxes (see section 171(1)).