PART 1Income tax, corporation tax and capital gains tax
CHAPTER 2Income tax: general
Other provisions
24Cars: the appropriate percentage
(1)
Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars, vans and related benefits) is amended as follows.
F1(2)
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(3)
Section 139 (cars with a CO2 figure: the appropriate percentage) is amended in accordance with subsections (4) to (6).
(4)
In subsection (2) —
(a)
in paragraph (a) for “5%” substitute “
7%
”
,
(b)
in paragraph (aa) for “9%” substitute “
11%
”
, and
(c)
in paragraph (b) for “13%” substitute “
15%
”
.
(5)
In subsection (3), for “14%” substitute “
16%
”
.
F2(6)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)
Section 140 (cars without a CO2 figure: the appropriate percentage) is amended in accordance with subsections (8) to (10).
(8)
In subsection (2), in the Table —
(a)
for “15%” substitute “
16%
”
, and
(b)
for “25%” substitute “
27%
”
.
(9)
In subsection (3)(a), for “5%” substitute “
7%
”
.
F3(10)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F4(11)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(12)
Section 142 (car first registered before 1st January 1998: the appropriate percentage) is amended in accordance with subsections (13) and (14).
(13)
In subsection (2), in the Table —
(a)
for “15%” substitute “
16%
”
,
(b)
for “22%” substitute “
27%
”
, and
(c)
for “32%” substitute “
37%
”
.
(14)
In subsection (3), for “32%” substitute “
37%
”
.
F5(15)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(16)
In consequence, section 23(4) and (5)(b) of FA 2013 is omitted.
(17)
The amendments made by this section have effect for the tax year 2016-17 and subsequent tax years.