The Income Tax (Cash Equivalents of Car Benefits) Order 1987
Section 64 of the Finance Act 1976 provides that in certain circumstances a person employed in director’s or higher-paid employment is chargeable to income tax in respect of the benefit of a car made available for private use by reason of his employment. The cash equivalent of such a benefit is, subject to the provisions of the section, to be ascertained from Tables A, B and C in Part I of Schedule 7 to that Act.