Part IIIIncome Tax, Corporation Tax and Capital Gains Tax
Chapter IIncome Tax and Corporation Tax
Benefits in kind
60Reductions for road fuel gas cars
1
In subsection (1) of section 168A of the Taxes Act 1988 (price of a car as regards year), for the words “sections 168B to 168G” there shall be substituted the words “sections 168AB to 168G”.
2
In subsection (11) of that section, after the words “section 168AA” there shall be inserted the words “or 168AB(1)”.
3
After section 168AA of that Act there shall be inserted the following section—
168ABEquipment etc. to enable car to run on road fuel gas
1
Equipment by means of which the car is capable of running on road fuel gas shall not be regarded as an accessory for the purposes of section 168A.
2
Where the car is manufactured in such way as to be capable of running on road fuel gas, the price of the car as regards each relevant year shall be treated as the price given by section 168A, reduced by so much of that price as it is reasonable to attribute to the car’s being manufactured in that way rather than in such a way as to be capable of running only on petrol.
3
In this section “road fuel gas” means any substance which is gaseous at a temperature of 15°C and under a pressure of 1013.25 millibars, and which is for use as fuel in road vehicles.
4
In subsection (2) of section 168B of that Act (accessories not included in list price), for the words “section 168A” there shall be substituted the words “sections 168A and 168AB”.
5
In subsection (2) of section 168C of that Act (accessories available after car first made available), for the words “sections 168A and 168B” there shall be substituted the words “sections 168A to 168B”.
6
This section has effect for the year 1998-99 and subsequent years of assessment.