Finance Act 2010
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Change 1
59 Cars with CO2 emissions figure
(1) Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars, vans and related benefits) is further amended as follows. (2) For section 139 substitute— Cars with a CO2 emissions figure: the appropriate percentage 139 (1) The appropriate percentage for a year for a car with a CO2 emissions figure depends on the car's CO2 emissions figure. (2) If the car's CO2 emissions figure is less than the relevant threshold for the year, the appropriate percentage for the year is— (a) if the year is 2012-13, 2013-14 or 2014-15 and the car's CO2 emissions figure for the year does not exceed 75 grams per kilometre driven, 5%, and (b) otherwise, 10%. (3) If the car's CO2 emissions figure is equal to the relevant threshold for the year, the appropriate percentage for the year is 11% (“the threshold percentage”). (4) If the car's CO2 emissions figure exceeds the relevant threshold for the year, the appropriate percentage for the year is whichever is the lesser of— (a) the threshold percentage increased by one percentage point for each 5 grams per kilometre driven by which the CO2 emissions figure exceeds the relevant threshold for the year, and (b) 35%. (5) The relevant threshold is 100 grams per kilometre driven. (6) If the car's CO2 emissions figure is not a multiple of 5, it is to be rounded down to the nearest multiple of 5 for the purposes of subsections (3) and (4)(a). (7) This section is subject to— (a) section 141 (diesel cars), and (b) any regulations made by the Treasury under section 170(4) (power to reduce the appropriate percentage). (3) In section 170 (Treasury orders and regulations varying various amounts)— (a) omit subsection (2A) (power to vary limit in section 139(3A)), and (b) in subsection (3)— (i) for “ “lower” substitute “ “ relevant ”, (ii) for “the Table in section 139(4)” substitute “ section 139(5) ”, and (iii) for “2006” substitute “ 2013 ”. (4) In consequence of the amendments made by subsections (2) and (3), omit— (a) in FA 2006, section 59, (b) in FA 2009, in Schedule 28, paragraphs 6, 9 and 10(1), and (c) in this Act, section 58(2) to (5). (5) The amendments made by this section have effect for the tax year 2012-13 and subsequent tax years.
59 Cars with CO2 emissions figure
(1) Chapter 6 of Part 3 of ITEPA 2003 (taxable benefits: cars, vans and related benefits) is further amended as follows. (2) For section 139 substitute— Cars with a CO2 emissions figure: the appropriate percentage 139 (1) The appropriate percentage for a year for a car with a CO2 emissions figure depends on the car's CO2 emissions figure. (2) If the car's CO2 emissions figure is less than the relevant threshold for the year, the appropriate percentage for the year is— (a) if the year is 2012-13, 2013-14 or 2014-15 and the car's CO2 emissions figure for the year does not exceed 75 grams per kilometre driven, 5%, and (b) otherwise, 10%. (3) If the car's CO2 emissions figure is equal to the relevant threshold for the year, the appropriate percentage for the year is 11% (“the threshold percentage”). (4) If the car's CO2 emissions figure exceeds the relevant threshold for the year, the appropriate percentage for the year is whichever is the lesser of— (a) the threshold percentage increased by one percentage point for each 5 grams per kilometre driven by which the CO2 emissions figure exceeds the relevant threshold for the year, and (b) 35%. (5) The relevant threshold is 100 grams per kilometre driven. (6) If the car's CO2 emissions figure is not a multiple of 5, it is to be rounded down to the nearest multiple of 5 for the purposes of subsections (3) and (4)(a). (7) This section is subject to— (a) section 141 (diesel cars), and (b) any regulations made by the Treasury under section 170(4) (power to reduce the appropriate percentage). (3) In section 170 (Treasury orders and regulations varying various amounts)— (a) omit subsection (2A) (power to vary limit in section 139(3A)), and (b) in subsection (3)— (i) for “ “lower” substitute “ “ relevant ”, (ii) for “the Table in section 139(4)” substitute “ section 139(5) ”, and (iii) for “2006” substitute “ 2013 ”. (4) In consequence of the amendments made by subsections (2) and (3), omit— (a) in FA 2006, section 59, (b) in FA 2009, in Schedule 28, paragraphs 6, 9 and 10(1), and (c) in this Act, section 58(2) to (5). (5) The amendments made by this section have effect for the tax year 2012-13 and subsequent tax years.
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