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Finance Act 2014

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Changes over time for: Section 24

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Changes to legislation:

Finance Act 2014, Section 24 is up to date with all changes known to be in force on or before 03 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

24Cars: the appropriate percentageU.K.
This section has no associated Explanatory Notes

(1)Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars, vans and related benefits) is amended as follows.

F1(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)Section 139 (cars with a CO2 figure: the appropriate percentage) is amended in accordance with subsections (4) to (6).

(4)In subsection (2) —

(a)in paragraph (a) for “5%” substitute “ 7% ”,

(b)in paragraph (aa) for “9%” substitute “ 11% ”, and

(c)in paragraph (b) for “13%” substitute “ 15% ”.

(5)In subsection (3), for “14%” substitute “ 16% ”.

F2(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7)Section 140 (cars without a CO2 figure: the appropriate percentage) is amended in accordance with subsections (8) to (10).

(8)In subsection (2), in the Table —

(a)for “15%” substitute “ 16% ”, and

(b)for “25%” substitute “ 27% ”.

(9)In subsection (3)(a), for “5%” substitute “ 7% ”.

F3(10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4(11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(12)Section 142 (car first registered before 1st January 1998: the appropriate percentage) is amended in accordance with subsections (13) and (14).

(13)In subsection (2), in the Table —

(a)for “15%” substitute “ 16% ”,

(b)for “22%” substitute “ 27% ”, and

(c)for “32%” substitute “ 37% ”.

(14)In subsection (3), for “32%” substitute “ 37% ”.

F5(15). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(16)In consequence, section 23(4) and (5)(b) of FA 2013 is omitted.

(17)The amendments made by this section have effect for the tax year 2016-17 and subsequent tax years.

Textual Amendments

F1S. 24(2) omitted (with effect in accordance with s. 10(2) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 10(1)(a)

F2S. 24(6) omitted (with effect in accordance with s. 10(2) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 10(1)(b)

F3S. 24(10) omitted (with effect in accordance with s. 10(2) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 10(1)(c)

F4S. 24(11) omitted (with effect in accordance with s. 10(2) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 10(1)(d)

F5S. 24(15) omitted (with effect in accordance with s. 10(2) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 10(1)(e)

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