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


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 26/03/2015
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Point in time view as at 17/07/2013.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.

Changes to Legislation
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[Reduction of cash equivalent where van is sharedU.K.
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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