# Income and Corporation Taxes Act 1988, Paragraph 1

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

(1) This paragraph applies where the van mentioned in section 159AA(1)—
(a) is not a van to which Part II of this Schedule applies for the year concerned, or
(b) is a van to which that Part applies for the year concerned but is a shared van (within the meaning there given) for part only of the year.
(2) Subject to paragraphs 2 and 3 below, the cash equivalent of the benefit is—
(a) £500, if the van is aged less than 4 years at the end of the year concerned;
(b) £350, if the van is aged 4 years or more at the end of the year concerned.

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