Part II

Income Tax, Corporation Tax and Capital Gains Tax
Chapter I

General

Miscellaneous

Car fuel: cash equivalents.
53
1
Section 158 of the Taxes Act 1988 (car fuel) shall be amended as follows.
2
For subsection (2) (cash equivalents) there shall be substituted—
2
Subject to the provisions of this section, the cash equivalent of that benefit shall be ascertained from—
a
Table A below where the car has an internal combustion engine with one or more reciprocating pistons and is not a diesel car;
b
Table AB below where the car has an internal combustion engine with one or more reciprocating pistons and is a diesel car;
c
Table B below where the car does not have an internal combustion engine with one or more reciprocating pistons.

TABLE A
Cylinder capacity of car in cubic centimetres | Cash equivalent
1,400 or less | £500
More than 1,400 but not more than 2,000 | £630
More than 2,000 | £940

TABLE AB
Cylinder capacity of car in cubic centimetres | Cash equivalent
2,000 or less | £460
More than 2,000 | £590

TABLE B
Original market value of car | Cash equivalent
Less than £6,000 | £500
£6,000 or more but less than £8,500 | £630
£8,500 or more | £940
2A
For the purposes of subsection (2) above a diesel car is a car which uses heavy oil as fuel; and “heavy oil” here means heavy oil as defined by section 1(4) of the Hydrocarbon Oil Duties Act 1979.
2B
For the purposes of Tables A and AB in subsection (2) above a car’s cylinder capacity is the capacity of its engine calculated as for the purposes of the Vehicles (Excise) Act 1971.
3
In subsection (4) (Treasury orders) for “either" there shall be substituted “ any ”.
4
This section shall have effect for the year 1992-93 and subsequent years of assessment.