Finance Act 2013 (c. 29)

PART 1 U.K. Income Tax, Corporation Tax and Capital Gains Tax

CHAPTER 2 U.K. Income tax: general

Other provisions U.K.

23 Taxable benefit of cars: the appropriate percentage U.K.

(1) Section 139 of ITEPA 2003 (car with CO₂ figure: the appropriate percentage) is amended in accordance with subsections (2) to (6).

(2) In subsection (2), after “the relevant threshold” omit “for the year”.

(3) For subsection (2)(a) substitute—

“(a) if the car's CO₂ emissions figure does not exceed 50 grams per kilometre driven, 5%,

(aa) if the car's CO₂ emissions figure exceeds 50 grams per kilometre driven but does not exceed 75 grams per kilometre driven, 9%, and”.

F1 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) In subsection (3)—

(a) after “the relevant threshold” omit “for the year”, and

F2 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6) In subsection (4)—

(a) after “the relevant threshold” (in both places) omit “for the year”, and

(b) in paragraph (b), for “35%” substitute “ 37% ”.

(7) Section 140 of that Act (car without CO₂ figure: the appropriate percentage) is amended in accordance with subsections (8) to (11).

(8) In the Table in subsection (2), for “35%” substitute “ 37% ”.

(9) For subsection (3)(a) substitute—

“(a) 5% if the car cannot in any circumstances emit CO₂ by being driven, and”.

(10) In subsection (3)(b), for “35%” substitute “ 37% ”.

(11) Omit subsection (3A).

(12) The amendments made by this section have effect for the tax year 2015-16 and subsequent tax years.

Textual Amendments

F1 S. 23(4) omitted (with effect in accordance with s. 24(17) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 24(16)

F2 S. 23(5)(b) omitted (with effect in accordance with s. 24(17) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 24(16)