SCHEDULES
SCHEDULE 28Taxable benefits: cars
Abolition of “price cap”
2
(1)
Section 121(1) (method of calculating cash equivalent of benefit of car) is amended as follows.
(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).