Amendment to section 155 of the Income Tax (Earnings and Pensions) Act 2003
This section has no associated Explanatory Memorandum
3. In section 155(1B)(a) and (b) of the Income Tax (Earnings and Pensions) Act 2003 (cash equivalent of the benefit of a van)(1) for “£3,490” substitute “£3,500”.
(1)
Section 155 was substituted by paragraph 5 of Schedule 14 to the Finance Act 2004 with effect for the tax year 2005-06 and subsequent tax years. Section 155(1B) was substituted by section 10(2) of the Finance Act 2015 with effect for the tax year 2015-16 and subsequent tax years, and amended by section 11(2) of the Finance Act 2016 (c. 24) with effect for the tax year 2016-17 and subsequent tax years. The figure specified in section 155(1B)(a) and (b) was last substituted by S.I. 2020/199.