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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Income Tax (Cash Equivalents of Car Fuel Benefits) Order 1992 No. 732 URL: http://www.bailii.org/uk/legis/num_reg/1992/uksi_1992732_en.html |
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Statutory Instruments
INCOME TAX
Made
12th March 1992
Laid before the House of Commons
12th March 1992
Coming into force
6th April 1992
The Treasury, in exercise of the powers conferred on them by section 158(4) of the Income and Corporation Taxes Act 1988(1), hereby make the following Order:
1. This Order may be cited as the Income Tax (Cash Equivalents of Car Fuel Benefits) Order 1992 and shall come into force on 6th April 1992.
2. In section 158(2) of the Income and Corporation Taxes Act 1988 (Tables of flat rate cash equivalents) for Tables A and B there shall be substituted the following Tables:-
| Cylinder capacity of car in cubic centimetres | Cash equivalent |
|---|---|
| 1,400 or less | £500 |
| More than 1,400 but not more than 2,000 | £630 |
| More than 2,000 | £940 |
| Original market value of car | Cash equivalent |
|---|---|
| Less than £6,000 | £500 |
| £6,000 or more but less than £8,500 | £630 |
| £8,500 or more | £940 |
Thomas Sackville
Irvine Patnick
Two of the Lords Commissioners of Her Majesty's Treasury
12th March 1992
(This note is not part of the Order)
This Order substitutes, with effect from 6th April 1992, new tables of flat rate cash equivalents for those set out in section 158(2) of 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 car fuel made available for private use by reason of their employment.