The Income Tax (Car Benefits) (Reduction of Value of Appropriate Percentage) (Amendment) Regulations 2005

• Citation: S.I. 2005/2209
• Sections: 2

Section 1 Citation, commencement and interpretation

(1) These Regulations may be cited as the Income Tax (Car Benefits) (Reduction of Value of Appropriate Percentage) (Amendment) Regulations 2005 and shall come into force on 6th April 2006.

(2) In these Regulations “the Car Benefit Regulations ” means the Income Tax (Car Benefits) (Reduction of Value of Appropriate Percentage) Regulations 2001 .

Section 2 Amendment of the Car Benefit Regulations

(1) The Car Benefit Regulations shall be amended in accordance with this regulation.

(2) Regulation 3 (prescribed reduction of value of appropriate percentage – cars propelled solely by diesel) shall cease to have effect in respect of any car registered on or after 1st January 2006.

(3) In regulation 5 (prescribed reduction of value of appropriate percentage – hybrid cars capable of being propelled by electricity and petrol) for the words following “The amount prescribed by this paragraph shall be” substitute “3%”.

(4) In regulation 6 (prescribed reduction of value of appropriate percentage – cars propelled solely by road fuel gas and bi-fuel cars to which paragraph 5 of Schedule 6 applies) for the words following “The amount prescribed by this paragraph shall be” substitute “2%”.

(5) Omit regulation 7 (prescribed reduction of value of appropriate percentage – bi-fuel cars to which paragraph 5 of Schedule 6 does not apply).