Finance Act 2009

60 (1) Section 76ZN (car or motor cycle hire: expenses of insurance companies) is amended as follows. U.K.

(2) In subsection (1)—

(a) in paragraph (a), omit “or motor cycle”, and

(b) for paragraphs (b) and (c) substitute—

“(b) the car is not—

(i) a car that is first registered before 1 March 2001,

(ii) a car that has low CO₂ emissions (as defined in section 104AA of the Capital Allowances Act),

(iii) a car that is electrically propelled (as defined in section 268B of that Act), or

(iv) a qualifying hire car.”

(3) After that subsection insert—

“(1A) Subsection (2) does not apply if condition A or condition B in section 58A of CTA 2009 (short-term hiring in and long-term hiring out) is met.”

(4) In subsection (2), for the words from “multiplying” to the end substitute “ 15% ”.

(5) In subsection (5), for the words from “multiplying” to the end substitute “ 15% ”.

(6) In subsection (6)(a), (b) and (c), omit “or motor cycle”.

(7) Omit subsection (7).

(8) In subsection (8), omit “or motor cycle” (in both places).

(9) After that subsection insert—

“(9) For the purposes of section 50B of ITTOIA 2005 and section 58B of CTA 2009 (connected persons: application of restrictions), this section is to be treated as if it were part of section 56 of CTA 2009.”