166Vans: limit of cash equivalentU.K.
This section has no associated Explanatory Notes
If—
(a)the cash equivalent of the benefit of vans to an employee for a tax year would (apart from this section) total more than £500, and
(b)no more than one of the vans is available to the employee for the employee’s private use, or the private use of a member of the employee’s family or household, at any one time in the year,
the cash equivalent of the benefit of the vans to the employee for the year is to be £500.