Section 157 — Income Tax (Earnings and Pensions) Act 2003: Reduction of cash equivalent where van is shared

Reduction of cash equivalent where van is shared 157 1 This section applies if in a tax year a van—

a is available to more than one employee concurrently, b is so made available by the same employer, and c is available concurrently for each employee’s private use.

2 The cash equivalent of the benefit of the van to each of those employees for that year—

a is to be calculated separately under sections 155 and 156, and b is then to be reduced on a just and reasonable basis. 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 In this section the reference to the van being available for each 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.