PART 1Income tax, corporation tax and capital gains tax
CHAPTER 2Income tax: general
Other provisions
17Taxable benefits: “the appropriate percentage” for cars for 2014-15
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.