Commentary on Sections Example 3 £150(Pe) – £50(E) = £100 Section 166: Vans: limit of cash equivalent
643.This section sets a maximum cash equivalent on an employee’s van benefit for a tax year, in particular circumstances. The section derives from paragraph 11 of Schedule 6A to ICTA.
644.The limit applies only if no more than one van is available, for private use, to the employee or the employee’s family or household at any one time in the tax year.