Statutory Instruments
2020 No. 199
Income Tax
The Van Benefit and Car and Van Fuel Benefit Order 2020
Made
27th February 2020
Laid before the House of Commons
2nd March 2020
Coming into force
6th April 2020
The Treasury make the following Order 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 ):
Citation, commencement and application
1. —(1) This Order may be cited as the Van Benefit and Car and Van Fuel Benefit Order 2020.
(2) This Order comes into force on 6th April 2020 and applies to the tax year 2020-21 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 “£24,100” substitute “£24,500”.
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 “£3,430” substitute “£3,490”.
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 “£655” substitute “£666”.
Iain Stewart
Rebecca Harris
Two of the Lords Commissioners of Her Majesty’s Treasury
27th February 2020
2003 c. 1 ; section 170(1A) was inserted by paragraph 7(2) of Schedule 14 to the Finance Act 2004 (c.12) with effect for the tax year 2005-06 and subsequent tax years, then substituted by section 10(1) and (6) of the Finance Act 2015 (c. 11) with effect for the tax year 2015-16 and subsequent years; and section 170(2) was amended by paragraph 7(3) of, and section 170(5) was amended by paragraph 7(4) of, Schedule 14 to the Finance Act 2004 with effect for the tax year 2005-06 and subsequent tax years.
The figure specified in section 150(1) was last substituted by S.I. 2018/1176 .
Section 155 was substituted by paragraph 5 of Schedule 14 to the Finance Act 2004 with effect for the tax year 2005-06 and subsequent tax years. Section 155(1B) was substituted by section 10(2) of the Finance Act 2015 with effect for the tax year 2015-16 and subsequent tax years, and amended by section 11(2) of the Finance Act 2016 (c. 24) with effect for the tax year 2016-17 and subsequent tax years. The figure specified in section 155(1B)(a) and (b) was last substituted by S.I. 2018/1176 .
Section 161 was substituted by paragraph 5 of Schedule 14 to the Finance Act 2004 with effect for the tax year 2005-06 and subsequent tax years. The figure specified in section 161(b) was last substituted by S.I. 2018/1176 .