PART 1Income Tax, Corporation Tax and Capital Gains Tax
CHAPTER 2Income tax: general
Other provisions
23Taxable benefit of cars: the appropriate percentage
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
F14
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
In subsection (3)—
a
after “the relevant threshold” omit “for the year”, and
F2b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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.