Statutory Instruments
2002 No. 706
INCOME TAX
The Income Tax (Cash Equivalents of Car Fuel Benefits) Order 2002
Made
15th March 2002
Laid before the House of Commons
15th March 2002
Coming into force
6th April 2002
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 2002 and shall come into force on 6th April 2002.
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 ... ... ... ... | £2,240 |
| More than 1,400 but not more than 2,000 | £2,850 |
| More than 2,000 ... ... ... ... | £4,200 |
TABLE AB
| Cylinder capacity of car in cubic centimetres | Cash equivalent |
|---|---|
| 2,000 or less ... ... ... ... | £2,850 |
| More than 2,000 ... ... ... ... | £4,200 |
TABLE B
| Description of car | Cash equivalent |
|---|---|
| Any car ... ... ... ... | £4,200 ” |
Tony McNulty
Graham Stringer
Two of the Lords Commissioners of Her Majesty’s Treasury
15th March 2002
1988 c. 1 ; section 158(4) was amended by section 53(3) of the Finance (No. 2) Act 1992 (c. 48) .
Subsection (2) of section 158 was substituted by section 53(2) of the Finance (No. 2) Act 1992 and the Tables in that subsection were substituted by S.I. 2001/635 .