PART 1Income tax
Employment income: taxable benefits
11Cash equivalent of benefit of a van
1
Section 155 of ITEPA 2003 (cash equivalent of the benefit of a van) is amended as follows.
2
In subsection (1B)(a), for “2019-20” substitute “
2021-22
”
.
3
In subsection (1C), for paragraphs (b) to (e) substitute—
b
20% for the tax year 2016-17;
c
20% for the tax year 2017-18;
d
40% for the tax year 2018-19;
e
60% for the tax year 2019-20;
f
80% for the tax year 2020-21;
g
90% for the tax year 2021-22.
4
The amendments made by this section have effect for the tax year 2016-17 and subsequent tax years.