EIM23771 - Car fuel benefit: example 2: reduction if car unavailable
Section 152 ITEPA 2003
This example illustrates the principles at EIM23763.
Example
The car in
EIM23770 is not made available to the
employee until 1 July 2003. It is therefore not available from 6
April to 30 June 2003 inclusive (86 days out of 366; note that
2003/04 is a leap year).
Using the formula at
EIM23763, the reduced benefit is:
| £2,880 | x |
(366 – 86) |
= | £2,203 |
|
366 |
There is a more complex example at EIM23773.
Years prior to 2003/04
The fuel benefit charge had a different basis in these years. See the contents page at SE23750CO for details.
