EIM22915 - Van fuel benefit from 2005/06: cash equivalent

Section 161 ITEPA 2003

The van fuel benefit charge is as follows:

• 2005/06 and 2006/07: nil (see note below)
• 2007/08 onwards: £500

Possible adjustments to the charge

The above charge is subject to adjustment as follows:

• see EIM22920 for conditions under which it is reduced to nil
• see EIM22925 if the van is unavailable for part of the year
• see EIM22930 if free fuel is withdrawn during the year and not reinstated
• see EIM22935 if the van is shared
• see EIM22940 for the effect of replacement vans.

Example

See EIM22980.

2005/06 and 2006/07

Because the van fuel benefit charge is nil for these two years, its existence can effectively be ignored until 2007/08.

Years prior to 2005/06

There was no separate charge for van fuel before 2005/06 because the benefit was covered by the van benefit charge, see EIM22068.