Finance Act 2014 (c. 26)

PART 1 Income tax, corporation tax and capital gains tax

CHAPTER 2 Income tax: general

Other provisions

25 Cars and vans: payments for private use

(1) In section 144 of ITEPA 2003 (deduction for payments for private use: cars), for subsection (1)(b) substitute—

“(b) pays that amount in that year.”

(2) In section 158 of that Act (reduction for payments for private use: vans), for subsection (1)(b) substitute—

“(b) pays that amount in that year.”

(3) The amendments made by this section have effect for the tax year 2014-15 and subsequent tax years.