Finance Act 2012

Other provisions U.K.

17 Taxable benefits: “the appropriate percentage” for cars for 2014-15 U.K.

(1) In section 139 of ITEPA 2003 (car with a CO₂ emissions figure: the appropriate percentage), for subsections (2) and (3) substitute—

“(2) If the car's CO₂ emissions figure is less than the relevant threshold for the year, the appropriate percentage for the year is—

(a) if the car's CO₂ emissions figure for the year does not exceed 75 grams per kilometre driven, 5%, and

(b) otherwise, 11%.

(3) If the car's CO₂ emissions figure is equal to the relevant threshold for the year, the appropriate percentage for the year is 12% (“the threshold percentage”).”

(2) The amendment made by this section has effect for the tax year 2014-15 and subsequent tax years.

18 Qualifying time deposits U.K.

(1) In section 866 of ITA 2007 (qualifying time deposits), in subsection (1), after “deposit” insert “ made before 6 April 2012 ”.

(2) The amendment made by this section is treated as having come into force on 6 April 2012.