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For the purposes of this Chapter the price of a car means—
(a)its list price, if it has one, or
(b)its notional price, if it has no list price.
(1)In this Chapter a car’s “list price” means the price published by the car’s manufacturer, importer or distributor (as the case may be) as the inclusive price appropriate for a car of that kind if sold—
(a)in the United Kingdom,
(b)singly,
(c)in a retail sale,
(d)in the open market, and
(e)on the day immediately before the date of the car’s first registration.
(2)The “inclusive price” means the price inclusive of—
(a)any charge for delivery by the manufacturer, importer or distributor to the seller’s place of business, and
(b)any relevant taxes (see section 171(1)).
(1)In this Chapter a car’s “notional price” means the price which might reasonably have been expected to be its list price if its manufacturer, importer or distributor (as the case may be) had published a price as the inclusive price appropriate for a sale of a car of the same kind sold—
(a)in the United Kingdom,
(b)singly,
(c)in a retail sale,
(d)in the open market,
(e)on the day immediately before the date of the car’s first registration, and
(f)with accessories equivalent to the qualifying accessories (see section 125) available with the car at the time when it was first made available to the employee.
(2)In this section “inclusive price” has the same meaning as in section 123.