Section 156 | Meaning of “shared van” ^F1

From legislation.gov.uk

15 July 2026

(1)The cash equivalent of the benefit of a van for a tax year under section 155 is to be reduced if the van has been unavailable on any day during the year.^F1F2

(2)For the purposes of this section a van is unavailable on any day if the day—^F1

(a)falls before the first day on which the van is available to the employee,^F1

(b)falls after the last day on which the van is available to the employee, or^F1

(c)falls within a period of 30 days or more throughout which the van is not available to the employee.^F1

(3)The amount of the reduction is given by the formula—^F1

Formula

\frac{U}{Y} \times CE

where—

U is the number of days in the year on which the van is unavailable,

Y is the number of days in the year, and

CE is the amount of the cash equivalent before any reduction.