Section 68 Cars with low carbon dioxide emissions

United Kingdom

(1)

In section 45D of CAA 2001 (first year qualifying expenditure on cars with low carbon dioxide emissions)—

(a)

in subsection (1)(a), for “2013” substitute “2015”, and

(b)

in subsection (4), for “110” substitute “95”.

(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

In section 104AA of that Act (special rate expenditure: meaning of “main rate car”), in subsection (4) for “160” substitute “130”.

(4)

Accordingly, in section 77 of FA 2008 omit—

(a)

subsection (2), and

(b)

subsection (3).

(5)

The amendments made by subsections (1)(b), (2) and (4)(b) have effect in relation to expenditure incurred on or after 1 April 2013.

(6)

The amendment made by subsection (3) has effect in relation to expenditure incurred on or after the relevant date.

(7)

But in relation to expenditure incurred on the hiring of a car—

(a)

for a period of hire which begins before the relevant date, and

(b)

under a contract entered into before that date,

section 49(1A) of ITTOIA 2005 and section 57(1A) of CTA 2009 apply on or after the relevant date as if the amendment made by subsection (3) did not have effect.

(8)

“The relevant date” means—

(a)

in the case of income tax, 6 April 2013, and

(b)

in the case of corporation tax, 1 April 2013.

Annotations

Textual amendments

F1: S. 68(2) repealed (with effect in accordance with s. 33(5) of the amending Act) by Finance Act 2019 (c. 1), s. 33(2)(c)(x)(b)