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Finance Act 2009

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Changes over time for: SCHEDULE 28

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Changes to legislation:

Finance Act 2009, SCHEDULE 28 is up to date with all changes known to be in force on or before 14 February 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. Help about Changes to Legislation

Section 53

SCHEDULE 28U.K.Taxable benefits: cars

This schedule has no associated Explanatory Notes

IntroductionU.K.

1U.K.Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars) is amended as follows.

Abolition of “price cap”U.K.

2(1)Section 121(1) (method of calculating cash equivalent of benefit of car) is amended as follows.U.K.

(2)In step 3, insert at the end— “ The resulting amount is the interim sum. ”

(3)Omit step 4 (interim sum to be £80,000 if step 3 amount exceeds £80,000).

3U.K.In section 145(5) (modifications of provisions where car temporarily replaced), for “step 4” substitute “ step 3 ”.

4U.K.In section 147(1) and (2) (classic cars), for “amount carried forward from” substitute “ interim sum calculated under ”.

5U.K.In section 170(1) (Treasury orders increasing various amounts), omit paragraph (a) (amount in step 4 of section 121(1)).

Cars with CO2 emissions figures: the appropriate percentageU.K.

F16U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 28 para. 6 omitted (with effect in accordance with s. 59(5) of the amending Act) by virtue of Finance Act 2010 (c. 13), s. 59(4)(b)

Electrically propelled cars: the appropriate percentageU.K.

F27U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2Sch. 28 para. 7 omitted (with effect in accordance with s. 58(19) of the amending Act) by virtue of Finance Act 2010 (c. 13), s. 58(17)

8U.K.In section 142 (special provision for cars registered before 1998)—

(a)in subsection (3) (cars without internal combustion engine with reciprocating pistons), for the words after “year is” substitute “ 32% ”, and

(b)omit subsection (4) (definition of electrically propelled car).

Consequential repealU.K.

F39U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F3Sch. 28 para. 9 omitted (with effect in accordance with s. 59(5) of the amending Act) by virtue of Finance Act 2010 (c. 13), s. 59(4)(b)

CommencementU.K.

10F4(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

(2)The other amendments made by this Schedule have effect for the tax year 2011-12 and subsequent tax years.

Textual Amendments

F4Sch. 28 para. 10(1) omitted (with effect in accordance with s. 59(5) of the amending Act) by virtue of Finance Act 2010 (c. 13), s. 59(4)(b)

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