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6. Taxable Benefits (vans)

Budget Resolutions and Economic Situation — Amendment of the Law – in the House of Commons at 6:23 pm on 22nd March 2016.

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Resolved,

That—

(1) Section 155 of the Income Tax (Earnings and Pensions) Act 2003 (cash equivalent of the benefit of a van) is amended as follows.(2) In subsection (lB)(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 Resolution have effect for the tax year 2016-17 and subsequent tax years.And it is declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.