PART 1Income tax
Employment income: taxable benefits
11Cash equivalent of benefit of a van
(1)
Section 155 of ITEPA 2003 (cash equivalent of the benefit of a van) is amended as follows.
(2)
In subsection (1B)(a), for “2019-20” substitute “
2021-22
”
.
(3)
In subsection (1C), for paragraphs (b) to (e) substitute—
“(b)
20% for the tax year 2016-17;
(c)
20% for the tax year 2017-18;
(d)
40% for the tax year 2018-19;
(e)
60% for the tax year 2019-20;
(f)
80% for the tax year 2020-21;
(g)
90% for the tax year 2021-22.”
(4)
The amendments made by this section have effect for the tax year 2016-17 and subsequent tax years.