- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
Section 53
1Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars) is amended as follows.
2(1)Section 121(1) (method of calculating cash equivalent of benefit of car) is amended as follows.
(2)In step 3, insert at the end—
“The resulting amount is the interim sum.”
(3)Omit step 4 (interim sum to be £80,000 if step 3 amount exceeds £80,000).
3In section 145(5) (modifications of provisions where car temporarily replaced), for “step 4” substitute “step 3”.
4In section 147(1) and (2) (classic cars), for “amount carried forward from” substitute “interim sum calculated under”.
5In section 170(1) (Treasury orders increasing various amounts), omit paragraph (a) (amount in step 4 of section 121(1)).
6In section 139(4) (car with a CO2 emissions figure: the appropriate percentage), for the table substitute—
Tax year | Lower threshold (in g/km) |
---|---|
2009-10 | 135 |
2010-11 | 130 |
2011-12 and subsequent tax years | 125”. |
7In section 140(3)(a) (appropriate percentage for electrically propelled cars), for “15%” substitute “9%”.
8In section 142 (special provision for cars registered before 1998)—
(a)in subsection (3) (cars without internal combustion engine with reciprocating pistons), for the words after “year is” substitute “32%”, and
(b)omit subsection (4) (definition of electrically propelled car).
9In consequence of the amendment made by paragraph 6, in FA 2008, omit section 47(1).
10(1)The amendments made by paragraphs 6 and 9 have effect for the tax year 2009-10 and subsequent tax years.
(2)The other amendments made by this Schedule have effect for the tax year 2011-12 and subsequent tax years.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
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.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: