http://www.legislation.gov.uk/id/ukpga/1988/1

SCHEDULES

Schedule 6A Taxation of Directors and Others in Respect of Vans

Part IISHARED VANS

Limit of benefit

F17

Where (apart from this paragraph) the figure found under paragraph 5 above for a participating employee for a year would exceed £500, the figure for the employee for the year shall be taken to be £500.