Section 158 Reduction for payments for private useF1

The cash equivalent of the benefit of a van for a tax year under section F2155 (after any reduction under sections 156 and 157) is to be reduced if, as a condition of the van being available for the employee’s private use, the employee—

If the amount paid F5as mentioned in subsection (1)(b) by the employee in respect of that year is equal to or exceeds that cash equivalent, it is reduced to nil.

In any other case that cash equivalent is reduced by the amount paid F6as mentioned in subsection (1)(b) by the employee.

In this section the reference to the van being available for the employee’s private use includes a reference to the van being available for the private use of a member of the employee’s family or household.