[F1Reduction for payments for private useU.K.
Textual Amendments
F1Ss. 155-164 substituted for ss. 155-166 (with effect in accordance with s. 80(2) of the amending Act) by Finance Act 2004 (c. 12), Sch. 14 para. 5
158Reduction for payments for private useU.K.
(1)The cash equivalent of the benefit of a van for a tax year under section [F2155] (after any reduction under sections 156 and 157) is to be reduced if, as a condition of the van being available for the employee’s private use, the employee—
(a)is required in that year to pay (whether by way of deduction from earnings or otherwise) an amount of money for that use, and
[F3(b)pays that amount [F4on or before 6 July following] that year.]
(2)If the amount paid [F5as mentioned in subsection (1)(b)] by the employee in respect of that year is equal to or exceeds that cash equivalent, it is reduced to nil.
(3)In any other case that cash equivalent is reduced by the amount paid [F6as mentioned in subsection (1)(b)] by the employee.
(4)In this section the reference to the van being available for the employee’s private use includes a reference to the van being available for the private use of a member of the employee’s family or household.
Textual Amendments
F2Word in s. 158(1) substituted (with effect in accordance with s. 10(8) of the amending Act) by Finance Act 2015 (c. 11), s. 10(4)
F3S. 158(1)(b) substituted (with effect in accordance with s. 25(3) of the amending Act) by Finance Act 2014 (c. 26), s. 25(2)
F4Words in s. 158(1)(b) substituted (with effect in accordance with s. 1(14) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), s. 1(10)(a)
F5Words in s. 158(2) inserted (with effect in accordance with s. 1(14) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), s. 1(10)(b)
F6Words in s. 158(3) inserted (with effect in accordance with s. 1(14) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), s. 1(10)(c)
[F7158AVan provided pursuant to optional remuneration arrangements: private useU.K.
(1)In calculating the relevant amount under section 154A in relation to a van and a tax year, a deduction is to be made under step 2 of subsection (3) of that section if, as a condition of the van being available for the employee's private use, the employee—
(a)is required in that year to pay (whether by way of deduction from earnings or otherwise) an amount of money for that use, and
(b)pays that amount on or before 6 July following that year.
(2)The amount of the deduction is—
(a)the amount paid as mentioned in subsection (1)(b) by the employee in respect of the year, or
(b)if less, the amount that would reduce the relevant amount to nil.
(3)In this section the reference to the van being available for the employee's private use includes a reference to the van being available for the private use of a member of the employee's family or household.]]
Textual Amendments
F7S. 158A inserted (with effect in accordance with Sch. 2 para. 62 of the amending Act) by Finance Act 2017 (c. 10), Sch. 2 para. 38