Finance Act 2021

23 Cash equivalent benefit of a zero-emissions van

(1) Section 155 of ITEPA 2003 (cash equivalent of the benefit of a van) is amended in accordance with subsections (2) and (3).

(2) In subsection (1B)—

(a) in paragraph (a), for “2021-22” substitute “2020-21”;

(b) omit the “and” at the end of that paragraph;

(c) after that paragraph insert—

“(aa) if the van cannot in any circumstances emit CO₂ by being driven and the tax year is 2021-22 or a subsequent tax year, the cash equivalent is nil, and”.

(3) In subsection (1C) omit paragraph (g).

(4) In section 170 of ITEPA 2003 (orders etc relating to Chapter 6 of Part 3 of ITEPA 2003), in subsection (1A)—

(a) in paragraph (b), after “zero-emission van” insert “in tax years 2015-16 to 2020-21”;

(b) omit the “and” at the end of that paragraph;

(c) after that paragraph insert—

“(ba) section 155(1B)(aa) (cash equivalent for zero-emissions vans in tax year 2021-22 and subsequent tax years), and”.