The Income Tax (Pay As You Earn) Regulations 2003 No. 2682

PART 3 U.K. DEDUCTION AND REPAYMENT OF TAX

[F1 CHAPTER 3A U.K. BENEFITS IN KIND

Textual Amendments

F1 Pt. 3 Ch. 3A inserted (with effect in accordance with reg. 1(4) of the amending S.I.) by The Income Tax (Pay As You Earn) (Amendment No. 4) Regulations 2015 (S.I. 2015/1927), regs. 1(1), 6

Method of calculating the cash equivalent of the benefit of a car or van U.K.

61E.— (1) Where the specified benefit is the provision of a car or a van the cash equivalent of that benefit is calculated in accordance with section 121 or 155 of ITEPA (cash equivalent of the benefit), as the case may be.

(2) For the purposes of paragraph (1), the authorised employer may take into account payments that the specified employee is required to make in the tax year as a condition of the car or van being available for that employee’s private use.]