142Car first registered before 1st January 1998: the appropriate percentageU.K.
(1)The appropriate percentage for a car first registered before 1st January 1998 is determined under this section.
(2)If the car has an internal combustion engine with one or more reciprocating pistons, the appropriate percentage for the year is—
Table
Cylinder capacity of car in cubic centimetres | Appropriate percentage |
---|---|
1,400 or less | 15% |
More than 1,400 but not more than 2,000 | 22% |
More than 2,000 | 32% |
For this purpose a car’s cylinder capacity is the capacity of its engine as calculated for the purposes of VERA 1994.
(3)If subsection (2) does not apply, the appropriate percentage for the year is [F132%].
F2(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Word in s. 142(3) substituted (with effect in accordance with Sch. 28 para. 10(2) of the amending Act and with Finance Act 2010 (c. 13), s. 58(20)) by Finance Act 2009 (c. 10), Sch. 28 para. 8(a)
F2S. 142(4) omitted (with effect in accordance with Sch. 28 para. 10(2) of the amending Act and with Finance Act 2010 (c. 13), s. 58(20)) by virtue of Finance Act 2009 (c. 10), Sch. 28 para. 8(b)
Modifications etc. (not altering text)
C1Ss. 133-142 applied by S.I. 2001/1123, reg. 2 (as amended (6.4.2008) by The Income Tax (Car Benefits) (Reduction of Value of Appropriate Percentage) (Amendment) Regulations 2007 (S.I. 2007/3068), regs. 1, 3)