SE23102 - Car benefits: price of the car as regards a year: meaning of "relevant day"

Section 168A(9)(b) ICTA 1988

Before reading the text that follows this paragraph, ensure that you are familiar with

• the general introduction to the calculation of price of a car as regards a year at SE23100
• the flowchart setting out the steps involved in calculating the price of a car as regards a year at SE23100a.

The relevant day for the purpose of ascertaining the relevant car's list price is the day immediately before the date of its first registration. Thus, where a car, other than a brand new vehicle, is imported into the United Kingdom you need to find out the list price for a single UK retail sale on the date it was first registered abroad. This should exclude the road fund licence (Vehicle Excise Duty).