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Finance Act 2017
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22U.K.After section 120 insert—
“120ABenefit of car treated as earnings: optional remuneration arrangements
(1)Where this Chapter applies to a car in relation to a particular tax year and the conditions in subsection (3) are met—
(a)the relevant amount (see section 121A) is to be treated as earnings from the employment for that tax year, and
(b)section 120(1) does not apply.
(2)In such a case (including a case where the relevant amount is nil) the employee is referred to in this Chapter as being chargeable to tax in respect of the car in the tax year.
(3)The conditions are that—
(a)the car is made available to the employee or member of the employee's household pursuant to optional remuneration arrangements,
(b)the amount foregone (see section 69B) with respect to the benefit of the car for the tax year is greater than the modified cash equivalent of the benefit of the car for the tax year (see section 121B), and
(c)the car's CO2 emissions figure (see sections 133 to 138) exceeds 75 grams per kilometre.”
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