Part 3Employment income: earnings and benefits etc. treated as earnings

Chapter 6Taxable benefits: cars, vans and related benefits

Cars: the price of a car

123The list price of a car

1

In this Chapter a car’s “list price” means the price published by the car’s manufacturer, importer or distributor (as the case may be) as the inclusive price appropriate for a car of that kind if sold—

a

in the United Kingdom,

b

singly,

c

in a retail sale,

d

in the open market, and

e

on the day immediately before the date of the car’s first registration.

2

The “inclusive price” means the price inclusive of—

a

any charge for delivery by the manufacturer, importer or distributor to the seller’s place of business, and

b

any relevant taxes (see section 171(1)).