Statutory Instrument 1992 No.731

The Income Tax (Cash Equivalents of Car Benefits) Order 1992

---

© Crown Copyright 1992

The legislation contained on this web site is subject to Crown Copyright protection. It may be reproduced free of charge provided that it is reproduced accurately and that the source and copyright status of the material is made evident to users.

It should be noted that the right to reproduce the text of Statutory Instruments does not extend to the Royal Arms and the Queen's Printer imprints.

The text of this Internet version of the Statutory Instrument has been prepared to reflect the text as it was Made. The authoritative version is the Queen's Printer copy published by The Stationery Office Limited as the The Income Tax (Cash Equivalents of Car Benefits) Order 1992, ISBN 0110237315. Purchase this item. For details of how to obtain an official copy see How to obtain The Stationery Office Limited titles.

To ensure fast access over slow connections, large documents have been segmented into "chunks". Where you see a "continue" button at the bottom of the page of text, this indicates that there is another chunk of text available.

1992 No.731

INCOME TAX

The Income Tax (Cash Equivalents of Car Benefits) Order 1992

The Treasury, in exercise of the powers conferred on them by section 157(4) of the Income and Corporation Taxes Act 1988^[1], hereby make the following Order—

Citation and commencement
    1.    This Order may be cited as the Income Tax (Cash Equivalents of Car Benefits) Order 1992 and shall come into force on 6th April 1992.

Substitution of tables of flat rate cash equivalents
    2.    In Part I of Schedule 6 to the Income and Corporation Taxes Act 1988^[2] for Tables A, B and C there shall be substituted the following tables:—
TABLE A
Cars with an original market value up to £19,250 and having a cylinder capacity

Cylinder capacity of car in cubic centimetres	Age of car at end of relevant year of assessment
1,400 or less £2,140 £1,460	Under 4 years
More than 1,400, but not more than 2,000£	4 years or more
More than 2,000£	2,770£ 1,880
4,440£	2,980

TABLE B
Cars with an original market value up to £19,250 and not having a cylinder capacity

Original market value of car	Age of car at end of relevant year of assessment
Under 4 years	Less than £6,000
4 years or more	£2,140 £1,460
£6,000 or more, but less than £8,500
£2,770
£1,880
£8,500 or more, but not more than £19,250
£4,440
£2,980

TABLE C
Cars with an original market value of more than £19,250

Original market value of car	Age of car at end of relevant year of assessment
Under 4 years
4 years or more
More than £19,250, but not more than £29,000
£5,750 £3,870
More than £29,000
£9,300 £6,170

Thomas Sackville

Irvine Patnick

Two of the Lords Commissioners of Her Majesty's Treasury

12th March 1992

This Order substitutes with effect from 6th April 1992 different tables of cash equivalents for each of the tables set out in Part I of Schedule 6 to the Income and Corporation Taxes Act 1988.

Directors and employees earning £8,500 or more a year are chargeable to income tax on an amount equal to the appropriate cash equivalent of the benefit of a car made available for private use by reason of their employment.

[1] 1988 c. 1. back

[2] Section 29 of the Finance Act 1991 (c. 31) substituted a new Part I of Schedule 6 for the year 1991-92 and subsequent years. back