Statutory Instruments
2001 No. 635
INCOME TAX
The Income Tax (Cash Equivalents of Car Fuel Benefits) Order 2001
Made
7th March 2001
Laid before the House of Commons
7th March 2001
Coming into force
6th April 2001
The Treasury, in exercise of the powers conferred upon them by section 158(4) of the Income and Corporation Taxes Act 1988( 1 ), hereby make the following Order:
1. This Order may be cited as the Income Tax (Cash Equivalents of Car Fuel Benefits) Order 2001 and shall come into force on 6th April 2001.
2. In section 158 of the Income and Corporation Taxes Act 1988 (car fuel) for the Tables in subsection (2) (tables of cash equivalents)( 2 ) there shall be substituted—
“ TABLE A
| Cylinder capacity of car in cubic centimetres | Cash equivalent |
|---|---|
| 1,400 or less ... ... ... ... | £1,930 |
| More than 1,400 but not more than 2,000 | £2,460 |
| More than 2,000 ... ... ... ... | £3,620 |
TABLE AB
| Cylinder capacity of car in cubic centimetres | Cash equivalent |
|---|---|
| 2,000 or less ... ... ... ... | £2,460 |
| More than 2,000 ... ... ... ... | £3,620 |
TABLE B
| Description of car | Cash equivalent |
|---|---|
| Any car ... ... ... ... | £3,620 ” . |
Jim Dowd
Greg Pope
Two of the Lords Commissioners of Her Majesty’s Treasury
7th March 2001
1988 c. 1 ; section 158(4) was amended by section 53(3) of the Finance (No. 2) Act 1992 (c. 48) .
Section 158(2) was substituted by section 59 of the Finance Act 1998 (c. 36) .