# The Enactment of Extra-Statutory Concessions Order 2012, Article 3: Reduction of cash equivalent where car is shared: income tax


(1) The Income Tax (Earnings and Pensions) Act 2003 is amended as follows.
(2) In section 121 (method of calculating the cash equivalent of the benefit of a car) for subsection (3) substitute—
“(3) Where the car is shared the cash equivalent is calculated under this section in accordance with section 148.”
(3) In section 148 (reduction of cash equivalent where car is shared)—
(a) in subsection (2) omit paragraph (b) and the “and” before it,
(b) after that subsection, insert—
“(2A) The provisional sum calculated under step 7 in section 121(1) is to be reduced on a just and reasonable basis before making any deduction under step 8.”, and
(c) in subsection (3) for “(2)(b)” substitute “(2A)”.

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Source: https://www.legislation.gov.uk/ukdsi/2012/9780111519134/article/3 (the official version)
Page: https://openlegislation.uk/draft-enactment-of-extra-statutory-concessions-order-2012/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.