Part 3Employment income: earnings and benefits etc. treated as earnings
Chapter 6Taxable benefits: cars, vans and related benefits
Cars: appropriate percentage: first registered before 1st January 1998
142Car first registered before 1st January 1998: the appropriate percentage
(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—
Table
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)
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