# Income and Corporation Taxes Act 1988, Paragraph 1

Extent: E+W+S+N.I.

(1) The cash equivalent of the benefit is the appropriate percentage for the year of the price of the car as regards the year.
(2) This is subject to paragraphs 6 and 7 below (reductions for periods when car unavailable and payments for use of car).

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/6/paragraph/1 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-6/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.