Statutory Instruments
2014 No. 2896
Income Tax
The Van Benefit and Car and Van Fuel Benefit Order 2014
Made
1st December 2014
Laid before the House of Commons
2nd December 2014
Coming into force
31st December 2014
The Treasury, in exercise of the powers conferred by section 170(1A), (2), (5) and (6) of the Income Tax (Earnings and Pensions) Act 2003( 1 ), makes the following Order:
Citation, commencement and effect
1. —(1) This Order may be cited as the Van Benefit and Car and Van Fuel Benefit Order 2014.
(2) This Order shall come into force on 31st December 2014 and has effect for the tax year 2015-16 and subsequent tax years.
Amendment to section 150 of the Income Tax (Earnings and Pensions) Act 2003
2. In section 150(1) of the Income Tax (Earnings and Pensions) Act 2003(car fuel: calculating the cash equivalent)( 2 ) for “£21,700” substitute “£22,100”.
Amendment to section 155 of the Income Tax (Earnings and Pensions) Act 2003
3. In section 155(1)(b) of the Income Tax (Earnings and Pensions) Act 2003 (cash equivalent of the benefit of a van)( 3 ) for “£3,090” substitute “£3,150”.
Amendment to section 161 of the Income Tax (Earnings and Pensions) Act 2003
4. In section 161(b) of the Income Tax (Earnings and Pensions) Act 2003(van fuel: the cash equivalent)( 4 ) for “£581” substitute “£594”.
David Evennett
Alun Cairns
Two of the Lords Commissioners of Her Majesty’s Treasury
1st December 2014
2003 c. 1 ; section 170(1A) was inserted by paragraphs 1 and 7 of Schedule 14 to the Finance Act 2004 (c. 12) and amended by section 58(1) and (15) of the Finance Act 2010 (c. 13) . Section 170(2) and (5) was amended by paragraphs 1 and 7 of Schedule 14 to the Finance Act 2004.
The amount specified in section 150(1) was last substituted by S.I. 2013/3033 .
Section 155(1) was substituted by section 58(1) and (12) of the Finance Act 2010. The amount specified in section 155(1)(b) was last substituted by S.I. 2013/3033 .
Section 161 was substituted by paragraphs 1 and 5 of Schedule 14 to the Finance Act 2004. The amount specified in section 161(b) was last substituted by S.I. 2013/3033 .