Section 150 Car fuel: calculating the cash equivalent
United Kingdom
The cash equivalent of the benefit of the fuel is the appropriate percentage of F1£29,200.
The “appropriate percentage” means the appropriate percentage determined in accordance with sections 133 to 142 for the purpose of calculating the cash equivalent of the benefit of the car for which the fuel is provided.
But the cash equivalent may be—
nil where either of the conditions in section 151 is met;
proportionately reduced under section 152;
reduced under section 153.
Annotations
Textual amendments
- F1
Sum in s. 150(1) substituted (with application to the tax year 2026-27 and subsequent tax years) by The Van Benefit and Car and Van Fuel Benefit Order 2025 (S.I. 2025/1254), arts. 1(2), 2(2)
Notes on Chapter 6
Modifications
- C1
Pt. 3 Ch. 6 modified (6.4.2020 for the tax year 2020-21) by Finance Act 2020 (c. 14), s. 9
- C2
Pt. 3 Ch. 6 modified (6.4.2021 for the tax year 2021-22) by Finance Act 2020 (c. 14), s. 10