Statutory Instruments
2018 No. 1176
Income Tax
The Van Benefit and Car and Van Fuel Benefit Order 2018
Made
13th November 2018
Laid before the House of Commons
14th November 2018
Coming into force
31st December 2018
The Treasury, in exercise of the powers conferred by section 170(1A)(b) and (c), (2), (5) and (6) of the Income Tax (Earnings and Pensions) Act 2003( 1 ), make the following Order:
Citation, commencement and application
1. —(1) This Order may be cited as the Van Benefit and Car and Van Fuel Benefit Order 2018.
(2) This Order comes into force on 31st December 2018 and applies to the tax year 2019-20 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 “£23,400” substitute “£24,100”.
Amendment to section 155 of the Income Tax (Earnings and Pensions) Act 2003
3. In section 155(1B)(a) and (b) of the Income Tax (Earnings and Pensions) Act 2003 (cash equivalent of the benefit of a van)( 3 ) for “£3,350” substitute “£3,430”.
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 “£633” substitute “£655”.
Paul Maynard
Craig Whittaker
Two of the Lords Commissioners of Her Majesty’s Treasury
13th November 2018
2003 c. 1 ; section 170(1A) was substituted by section 10(1) and (6) of the Finance Act 2015 (c. 11) and section 170(2) and (5) was amended by paragraphs 1 and 7(1), (3) and (4) of Schedule 14 to the Finance Act 2004 (c. 12) .
The amount specified in section 150(1) was last substituted by S.I. 2017/1176 .
Section 155(1B) was substituted by section 10(1) and (2) of the Finance Act 2015 and amended by section 11 of the Finance Act 2016 (c. 24) . The amount specified in section 155(1B)(a) and (b) was last substituted by S.I. 2017/1176 .
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. 2017/1176 .