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)).