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Finance Act 2014

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This is the original version (as it was originally enacted).

24Cars: the appropriate percentage
This section has no associated Explanatory Notes

(1)Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars, vans and related benefits) is amended as follows.

(2)In section 133 (how to determine the appropriate percentage), in subsection (2)—

(a)at the end of paragraph (a) insert “or”,

(b)omit paragraph (c) and the “or” before it, and

(c)for “to 141” substitute “and 140”.

(3)Section 139 (cars with a CO2 figure: the appropriate percentage) is amended in accordance with subsections (4) to (6).

(4)In subsection (2) —

(a)in paragraph (a) for “5%” substitute “7%”,

(b)in paragraph (aa) for “9%” substitute “11%”, and

(c)in paragraph (b) for “13%” substitute “15%”.

(5)In subsection (3), for “14%” substitute “16%”.

(6)In subsection (7), omit paragraph (a) and the “and” after it.

(7)Section 140 (cars without a CO2 figure: the appropriate percentage) is amended in accordance with subsections (8) to (10).

(8)In subsection (2), in the Table —

(a)for “15%” substitute “16%”, and

(b)for “25%” substitute “27%”.

(9)In subsection (3)(a), for “5%” substitute “7%”.

(10)In subsection (5), omit paragraph (a) and the “and” after it.

(11)Omit section 141 (diesel cars: the appropriate percentage).

(12)Section 142 (car first registered before 1st January 1998: the appropriate percentage) is amended in accordance with subsections (13) and (14).

(13)In subsection (2), in the Table —

(a)for “15%” substitute “16%”,

(b)for “22%” substitute “27%”, and

(c)for “32%” substitute “37%”.

(14)In subsection (3), for “32%” substitute “37%”.

(15)In section 170(4) (power to reduce value of appropriate percentage by regulations), for the words “to 141” substitute “and 140”.

(16)In consequence, section 23(4) and (5)(b) of FA 2013 is omitted.

(17)The amendments made by this section have effect for the tax year 2016-17 and subsequent tax years.

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