SCHEDULES

SCHEDULE 28 U.K. Taxable benefits: cars

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).