132Capital contributions by employeeU.K.
(1)This section applies if the employee contributes a capital sum to expenditure on the provision of—
(a)the car, or
(b)any qualifying accessory which is taken into account in calculating the cash equivalent of the benefit of the car.
(2)A deduction is to be made from the amount carried forward from step 2 of section 121(1)—
(a)for the tax year in which the contribution is made, and
(b)for all subsequent years in which the employee is chargeable to tax in respect of the car by virtue of section 120.
(3)The amount of the deduction allowed in any tax year is the lesser of—
(a)the total of the capital sums contributed by the employee in that year and any earlier years to expenditure on the provision of—
(i)the car, or
(ii)any qualifying accessory which is taken into account in calculating the cash equivalent of the benefit of the car for the tax year in question, and
(b)£5,000.