Statutory Instruments
2022 No. 1288
Income Tax
The Van Benefit and Car and Van Fuel Benefit Order 2022
Made
5th December 2022
Laid before the House of Commons
7th December 2022
Coming into force
6th April 2023
The Treasury make the following Order in exercise of the powers conferred by section 170(1A)(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 Fuel Benefit Order 2022.
(2) This Order comes into force on 6th April 2023 and applies to the tax year 2023-24 and subsequent tax years.
Amendments to sections 150 and 155 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 “£25,300” substitute “£27,800” .
3. In section 155(1B)(b) of the Income Tax (Earnings and Pensions) Act 2003 (cash equivalent of the benefit of a van)( 3 ) for “£3,600” substitute “£3,960” .
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 “£688” substitute “£757” .
Steve Double
Andrew Stephenson
Two of the Lords Commissioners of His Majesty’s Treasury
5th December 2022
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. This section was then substituted by section 10(6) of the Finance Act 2015 (c. 11) with effect for the tax year 2015-16 and subsequent tax years. Section 170(2) was amended by paragraph 7(3) of Schedule 14 to the Finance Act 2004 with effect for the tax year 2005-06 and subsequent tax years. 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 years.
The figure specified in section 150(1) was last substituted by S.I. 2021/1422 .
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. The figure specified in section 155(1B)(b) was last substituted by S.I. 2021/1422 .
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. 2021/1422 .