- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
The value of exclusive availability is calculated as follows—
Step 1
Determine the age of the van.
Step 2
If the age of the van is less than 4 years at the end of the tax year in question, the basic value of the van for the year is £500.
In any other case, the basic value of the van for the year is £350.
Step 3
Make any deduction from the basic value of the van under section 158 for any periods when the van was unavailable or a shared van.
The resulting amount is the provisional sum.
Step 4
Make any deduction from the provisional sum under section 159 in respect of payments by the employee for the private use of the van.
The result is the value of exclusive availability.
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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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