PART 1Income tax, corporation tax and capital gains tax
CHAPTER 2Income tax: general
Other provisions
24Cars: the appropriate percentage
1
Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars, vans and related benefits) is amended as follows.
F12
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3
Section 139 (cars with a CO2 figure: the appropriate percentage) is amended in accordance with subsections (4) to (6).
4
In subsection (2) —
a
in paragraph (a) for “5%” substitute “
7%
”
,
b
in paragraph (aa) for “9%” substitute “
11%
”
, and
c
in paragraph (b) for “13%” substitute “
15%
”
.
5
In subsection (3), for “14%” substitute “
16%
”
.
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7
Section 140 (cars without a CO2 figure: the appropriate percentage) is amended in accordance with subsections (8) to (10).
8
In subsection (2), in the Table —
a
for “15%” substitute “
16%
”
, and
b
for “25%” substitute “
27%
”
.
9
In subsection (3)(a), for “5%” substitute “
7%
”
.
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12
Section 142 (car first registered before 1st January 1998: the appropriate percentage) is amended in accordance with subsections (13) and (14).
13
In subsection (2), in the Table —
a
for “15%” substitute “
16%
”
,
b
for “22%” substitute “
27%
”
, and
c
for “32%” substitute “
37%
”
.
14
In subsection (3), for “32%” substitute “
37%
”
.
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16
In consequence, section 23(4) and (5)(b) of FA 2013 is omitted.
17
The amendments made by this section have effect for the tax year 2016-17 and subsequent tax years.