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Income Tax (Earnings and Pensions) Act 2003

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Changes over time for: Cross Heading: Reduction of cash equivalent where van is shared

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Version Superseded: 26/03/2015

Alternative versions:

Status:

Point in time view as at 17/07/2013.

Changes to legislation:

Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Reduction of cash equivalent where van is shared is up to date with all changes known to be in force on or before 06 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

[F1Reduction of cash equivalent where van is sharedU.K.

Textual Amendments

F1Ss. 155-164 substituted for ss. 155-166 (with effect in accordance with s. 80(2) of the amending Act) by Finance Act 2004 (c. 12), Sch. 14 para. 5

157Reduction of cash equivalent where van is sharedU.K.

(1)This section applies if in a tax year a van—

(a)is available to more than one employee concurrently,

(b)is so made available by the same employer, and

(c)is available concurrently for each employee’s private use.

(2)The cash equivalent of the benefit of the van to each of those employees for that year—

(a)is to be calculated separately under sections 155 and 156, and

(b)is then to be reduced on a just and reasonable basis.

(3)If —

(a)any of the employees mentioned in subsection (1)(a) (“E”) is a member of the family or household of another of them (“M”), and

(b)E’s employment is an excluded employment,

the availability of the van to E is to be disregarded when applying subsection (2)(b) in respect of M.

(4)In this section the reference to the van being available for each employee’s private use includes a reference to the van being available for the private use of a member of the employee’s family or household.]

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