SE23170 - Car benefits: classic cars - general

Section 168F ICTA 1988

There is special legislation to deal with the benefit of certain classic cars because their list price will be low compared with their current value.

The special rules apply where

• the car is 15 years old or more at the end of the year of assessment,
• the market value of the car for the year is £15,000 or more, and
• the price of the car as regards the year, calculated from the original list price under SE23100 onwards, is less than the market value of the car for the year.

See example SE23186.