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”.
23(1)In relation to a capital sum contributed by the employee before 6th April 2003, section 147 (classic cars: 15 years of age or more) applies with the following modifications.U.K.
(2)In subsection (5)(b) substitute “under section 168F(3) of ICTA in determining the price of the car as regards a year” for “in determining the market value of the car”.
(3)In subsection (6)—
(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”.
F124U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 7 para. 24 repealed (22.7.2004) by Finance Act 2004 (c. 12), Sch. 42 Pt. 2(9)