Statutory Instrument 1992 No. 732

The Income Tax (Cash Equivalents of Car Fuel Benefits) Order 1992

(The document as of February, 2008)

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STATUTORY INSTRUMENTS

1992 No. 732

INCOME TAX

The Income Tax (Cash Equivalents of Car Fuel Benefits) Order 1992

Made	12th March 1992

Laid before the House of Commons

12th March 1992

Coming into force

6th April 1992

The Treasury, in exercise of the powers conferred on them by section 158(4) of the Income and Corporation Taxes Act 1988^[1], hereby make the following Order:

    1.    This Order may be cited as the Income Tax (Cash Equivalents of Car Fuel Benefits) Order 1992 and shall come into force on 6th April 1992.

    2.    In section 158(2) of the Income and Corporation Taxes Act 1988 (Tables of flat rate cash equivalents) for Tables A and B there shall be substituted the following Tables:—
TABLE A

Cylinder capacity of car in cubic centimetres	Cash equivalent
1,400 or less	£500
More than 1,400 but not more than 2,000	£630
More than 2,000	£940


TABLE B

Original market value of car	Cash equivalent
Less than £6,000	£500
£6,000 or more but less than £8,500	£630
£8,500 or more	£940

Thomas Sackville

Irvine Patnick

Two of the Lords Commissioners of Her Majesty's Treasury

12th March 1992

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EXPLANATORY NOTE

(This note is not part of the Order)

This Order substitutes, with effect from 6th April 1992, new tables of flat rate cash equivalents for those set out in section 158(2) of the Income and Corporation Taxes Act 1988. Directors and employees earning £8,500 or more a year are chargeable to income tax on an amount equal to the appropriate cash equivalent of the benefit of car fuel made available for private use by reason of their employment.

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ISBN 0 11 023732 3

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Notes:

[1] 1988 c. 1.

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