Section 138 — Finance Act 2003: Taxable benefits: lower threshold for cars with a CO 2 emissions figure

Taxable benefits: lower threshold for cars with a CO 2 emissions figure 138 1 In section 139 of the Income Tax (Earnings and Pensions) Act 2003 (cash equivalent of the benefit of a car: calculation of the appropriate percentage for a year for cars with a CO 2 emissions figure) the table in subsection (4) (which specifies the lower threshold for each year for the purposes of that calculation) is amended as follows.

2 In the entry relating to 2004-05 and subsequent tax years omit “and subsequent tax years”. 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 In section 170(3) of that Act (power to provide by order for a lower threshold different from that specified in the table in section 139(4) to apply for tax years beginning on or after 6th April 2005) for “6th April 2005” substitute “ 6th April 2006 ” .