23Taxable benefit of cars: the appropriate percentageU.K.
(1)Section 139 of ITEPA 2003 (car with CO2 figure: the appropriate percentage) is amended in accordance with subsections (2) to (6).
(2)In subsection (2), after “the relevant threshold” omit “for the year”.
(3)For subsection (2)(a) substitute—
“(a)if the car's CO2 emissions figure does not exceed 50 grams per kilometre driven, 5%,
(aa)if the car's CO2 emissions figure exceeds 50 grams per kilometre driven but does not exceed 75 grams per kilometre driven, 9%, and”.
F1(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)In subsection (3)—
(a)after “the relevant threshold” omit “for the year”, and
F2(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)In subsection (4)—
(a)after “the relevant threshold” (in both places) omit “for the year”, and
(b)in paragraph (b), for “35%” substitute “ 37% ”.
(7)Section 140 of that Act (car without CO2 figure: the appropriate percentage) is amended in accordance with subsections (8) to (11).
(8)In the Table in subsection (2), for “35%” substitute “ 37% ”.
(9)For subsection (3)(a) substitute—
“(a)5% if the car cannot in any circumstances emit CO2 by being driven, and”.
(10)In subsection (3)(b), for “35%” substitute “ 37% ”.
(11)Omit subsection (3A).
(12)The amendments made by this section have effect for the tax year 2015-16 and subsequent tax years.
Textual Amendments
F1S. 23(4) omitted (with effect in accordance with s. 24(17) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 24(16)
F2S. 23(5)(b) omitted (with effect in accordance with s. 24(17) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 24(16)