EIM23146 - Car benefit: accessory: conditions when determining list or notional price (part 2)
Sections 128 to 130 ITEPA 2003
Before reading the guidance that follows this paragraph, ensure that you are familiar with:
- the method statement in Section 121(1) ITEPA 2003, see EIM23101 (this page concerns step 2)
- the general introduction to the treatment of accessories at EIM23140.
There are five conditions that are used when determining the
price of an accessory. The first four are common to all accessories
and are covered on
EIM23145, so that page should be read
first. The fifth condition varies, depending on the type of
accessory concerned.
For an initial extra accessory with:
- a list price published by the manufacturer, distributor or importer of the car
- on the day immediately before the date of the car’s first registration
- a list price published by the manufacturer, distributor or importer of the accessory
- at the time immediately before the accessory concerned is first made available for use with the car (this may be a time before the car was first made available to the employee)
- a notional price
- at the time immediately before the accessory concerned is first made available for use with the car (this may be a time before the car was first made available to the employee).
For all later accessories:
- at the time immediately before the accessory concerned is first made available for use with the car.
