29(1)Section 144 (deduction for payments for private use) is amended as follows.U.K.
(2)In subsection (1), for “calculated under step 7 of section 121(1)” substitute “ (see subsection (1A)) ”.
(3)After subsection (1) insert
“(1A)In this section “the provisional sum” means the provisional sum calculated under—
(a)step 7 of section 121(1) (method of calculating the cash equivalent of the benefit of a car), or
(b)step 2 of section 121A(1) (optional remuneration arrangements: method of calculating relevant amount).”
(4)In subsection (2), for the words from “so that” to the end substitute “so that—
(a)in a case within subsection (1A)(a), the cash equivalent of the benefit of the car for the year is nil, or
(b)in a case within subsection (1A)(b), the relevant amount for the purposes of section 120A is nil.”
(5)In subsection (3)—
(a)for “In any other case” substitute “ Where subsection (2) does not apply, ” and
(b)for the words from “give” to the end substitute “give—
(a)in a case within subsection (1A)(a), the cash equivalent of the benefit of the car for the year, or
(b)in a case within subsection (1A)(b), the relevant amount for the purposes of section 120A.”