Details of the Section
2.Paragraph 2 introduces new section 125(3A) into the Income Tax (Earnings and Pensions) Act 2003 (ITEPA). This provides that section 125(2) ITEPA (which deals with exclusions from treatment as accessories) must be read with new section 125A ITEPA.
3.Paragraph 3 introduces new section 125A. New section 125A(1) provides that the section applies to company cars with a relevant security feature. New section 125A(2) provides that the relevant security feature is not an accessory if it is provided as a result of a threat to the individual’s personal security arising from the nature of their employment. New section 125A(3) sets out the types of relevant security features and includes any modification made to the car as a result of the enhancements (in order to make it roadworthy). Finally, new section 125A(4) provides an order making power to introduce further relevant security features should these be required in future.
4.Paragraph 4 deals with a consequential amendment to Part 2 of Schedule 1 to ITEPA (index of defined expressions).
