EIM22729 - Van benefit from 2005/06: definitions - age of van

Section 171(3) ITEPA 2003

This definition is carried over from years before 2005/06 but is only relevant for years up to and including 2006/07, after which the age of the van ceases to be a factor in determining the cash equivalent.

Definition

The age of a van at any point in time is the interval between the date of its first registration (whether in the United Kingdom or elsewhere) and that time.

The date of first registration is the date on which the vehicle was first registered under the Vehicle Excise and Registration Act 1994 or under corresponding legislation of any country or territory.

Where a van, other than a brand new vehicle, is imported into the United Kingdom you may therefore need to find out the date it was first registered abroad.

Example

For example, a van that was first registered on or after 6 April 2002 will count as under four years old for the tax year 2005/06. If it was first registered before that date it will rank as over four years old because the cash equivalent is calculated by reference to the age of the van at the end of the year of assessment.