EIM23131 - Car benefit: notional price - particular cars
Section 124 ITEPA 2003
EIM23130 explains the meaning of ‘notional price’
for car benefit purposes.
In exceptional cases, PAYE Technical is prepared to agree a
notional price to apply nationally. This has only happened over one
car to date, details of which are:
- car: smart EV (an electric-only version of the smart car)
- model: the prototype, a maximum of 200 cars produced in 2007
- notional price: £13,750
These cars were not offered for sale, only for lease. As a result, they do not have a list price. The above notional price only applies to the 2007 prototypes, not to any future production model of a smart EV. This will be available for sale in the normal way and so will have a list price.
