Version Superseded: 17/07/2014
Point in time view as at 17/07/2013. This version of this provision has been superseded.
Income Tax (Earnings and Pensions) Act 2003, Section 142 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.
(1)The appropriate percentage for a car first registered before 1st January 1998 is determined under this section.
(2)If the car has an internal combustion engine with one or more reciprocating pistons, the appropriate percentage for the year is—
| Cylinder capacity of car in cubic centimetres | Appropriate percentage |
|---|---|
| 1,400 or less | 15% |
| More than 1,400 but not more than 2,000 | 22% |
| More than 2,000 | 32% |
For this purpose a car’s cylinder capacity is the capacity of its engine as calculated for the purposes of VERA 1994.
(3)If subsection (2) does not apply, the appropriate percentage for the year is [F132%].
F2(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Word in s. 142(3) substituted (with effect in accordance with Sch. 28 para. 10(2) of the amending Act and with Finance Act 2010 (c. 13), s. 58(20)) by Finance Act 2009 (c. 10), Sch. 28 para. 8(a)
F2S. 142(4) omitted (with effect in accordance with Sch. 28 para. 10(2) of the amending Act and with Finance Act 2010 (c. 13), s. 58(20)) by virtue of Finance Act 2009 (c. 10), Sch. 28 para. 8(b)
Modifications etc. (not altering text)
C1Ss. 133-142 applied by S.I. 2001/1123, reg. 2 (as amended (6.4.2008) by The Income Tax (Car Benefits) (Reduction of Value of Appropriate Percentage) (Amendment) Regulations 2007 (S.I. 2007/3068), regs. 1, 3)
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