Explanatory Notes

Finance Act 2014

2014 CHAPTER 26

17 July 2014

Introduction

Section 23: Taxable Benefits: Cars, Vans and Related Benefits

Details of the Section

2.Subsection 1 removes section 114(3) ITEPA 2003, which will ensure that the cash equivalent of the benefit for a car or van made available for private use will still be treated as earnings from the employment even if it would also fall to be earnings by virtue of any other provision.