The Income Tax (Pay As You Earn) Regulations 2003

[F1Method of calculating the cash equivalent [F2or relevant amount in respect] of the benefit of a car or vanU.K.

61E.—(1) Where the specified benefit is the provision of a car or a van the cash equivalent [F3or relevant amount is calculated in accordance with section 121, 121A, 154A or 155 of ITEPA], as the case may be.

(2) For the purposes of paragraph (1), the authorised employer may take into account payments that the specified employee is required to make in the tax year as a condition of the car or van being available for that employee’s private use.]

Textual Amendments

F1Pt. 3 Ch. 3A inserted (with effect in accordance with reg. 1(4) of the amending S.I.) by The Income Tax (Pay As You Earn) (Amendment No. 4) Regulations 2015 (S.I. 2015/1927), regs. 1(1), 6