22(1)In relation to a capital sum contributed by the employee before 6th April 2003, section 132 (cars: capital contributions by employee) applies with the following modifications.U.K.
(2)In subsection (1)(b) substitute “under sections 168A to 168C of ICTA in determining the price of the car as regards a year” for “in calculating the cash equivalent of the benefit of the car”.
(3)In subsection (2)—
(a)omit paragraph (a), and
(b)in paragraph (b) substitute “ the tax years after the tax year in which the contribution was made which are ” for “subsequent”.