Part IIU.K. Income Tax, Corporation Tax and Capital Gains Tax
CHAPTER IU.K. General
Benefits in kindU.K.
49 Car benefits.U.K.
(1)In Schedule 6 to the Taxes Act 1988 (taxation of directors and others in respect of cars) for Part I (tables of flat rate cash equivalents) there shall be substituted—
“Part IU.K. Tables of Flat Rate Cash Equivalents
table A
cars with an original market value up to £19,250 and having a cylinder capacity
| Cylinder capacity of car in cubic centimetres | Age of car at end of relevant year of assessment |
|---|
| Under 4 years | 4 years or more |
|---|
| 1400 or less | £1,400 | £950 |
| More than 1400 but not more than 2000 | £1,850 | £1,250 |
| More than 2000 | £2,950 | £1,950 |
table B
Cars with an original market value up to £19,250 and not having a cylinder capacity
| Original market value of car | Age of car at end of relevant year of assessment |
|---|
| Under 4 years | 4 years or more |
|---|
| Less than £6,000 | £1,400 | £950 |
| £6,000 or more but less than £8,500 | £1,850 | £1,250 |
| £8,500 or more but not more than £19,250 | £2,950 | £1,950 |
table B
Cars with an original market value of more than £19,250
| Original market value of car | Age of car at end of relevant year of assessment |
|---|
| Under 4 years | 4 years or more |
|---|
| More than £19,250 but not more than £29,000 | £3,850 | £2,600 |
| More than £29,000 | £6,150 | £4,100” |
(2)This section shall have effect for the year 1989-90 and subsequent years of assessment.