Section 11 | Cash equivalent of benefit of a van

(1)Section 155 of ITEPA 2003 (cash equivalent of the benefit of a van) is amended as follows.

(2)In subsection (1B)(a), for “2019-20” substitute “ 2021-22 ”.

(3)In subsection (1C), for paragraphs (b) to (e) substitute—

(b)20% for the tax year 2016-17;

(c)20% for the tax year 2017-18;

(d)40% for the tax year 2018-19;

(e)60% for the tax year 2019-20;

(f)80% for the tax year 2020-21;

(g)90% for the tax year 2021-22.

(4)The amendments made by this section have effect for the tax year 2016-17 and subsequent tax years.