An employee changing cars during the tax year has to make separate computations of benefit for each car. Citations: Times 14-May-1997, Gazette 21-May-1997 Statutes: Income and Corporation Taxes Act 1988 157 sch 6 Jurisdiction: England and Wales Income Tax Updated: 05 August 2022; Ref: scu.81328
The taxpayer’s employer had created a scheme to provide to him with a motor vehicle, but seeking to reduce his liabilty for income tax. The company purchased two cars and transferred to him a five per cent interest in each for which he paid. The cars were rather later sold to him at an independent … Continue reading Christensen (Inspector of Taxes) v Vasili: ChD 19 Mar 2004
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