130The notional price of an accessoryU.K.
(1)In this Chapter the “notional price” of an accessory means the inclusive price which it might reasonably have been expected to fetch if sold—
(a)in the United Kingdom,
(b)singly,
(c)in a retail sale,
(d)in the open market, and
(e)at the time immediately before the accessory concerned is first made available for use with the car.
(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,
(b)any relevant taxes other than car tax (see section 171(1)), and
(c)in the case of an accessory permanently attached to the car, the price which the seller would charge for attaching it.
(3)In the case of an initial extra accessory, the time referred to in subsection (1)(e) may be a time before the car is first made available to the employee.
Modifications etc. (not altering text)
C1Ss. 127-130 applied (with modifications) by 1994 c. 22, s. 1GF(3)(4) (as inserted (18.11.2015) by Finance (No. 2) Act 2015 (c. 33), s. 46(2)(c))